The Philippines is planning to build a new shipping terminal in Aurora province in central Luzon, which is estimated to cost around $56.5m.The project will be funded through official development assistance of the Korean government with counterpart funding from Philippines government, Ship-Technology reports.
The project, which will be located in Aurora Pacific Economic and Freeport Zone, is expected to have an annual handling capacity of 700,000 tons of cargo.
According to reports the terminal will be equipped with berthing facilities, a container yard and cargo handling equipment, and it will be able to handle panamax vessels.
The terminal is expected to be completed in four years and will serve as an alternative to Manila port for shipments destined for central and northern Luzon.
The project, which will be located in Aurora Pacific Economic and Freeport Zone, is expected to have an annual handling capacity of 700,000 tons of cargo.
According to reports the terminal will be equipped with berthing facilities, a container yard and cargo handling equipment, and it will be able to handle panamax vessels.
The terminal is expected to be completed in four years and will serve as an alternative to Manila port for shipments destined for central and northern Luzon.