ASIAN Terminal Inc. may still bid for the second phase of the Batangas seaport once the Supreme Court decides on the motion for reconsideration filed by the Philippine Ports Authority on its earlier ruling.
The Supreme Court had ordered PPA to pay the residents P5,500 per square meter of their properties affected by the development of Batangas Port with 12 percent annual interest, in addition to the P300/sqm the authority paid on September 2001 when it expropriated the land.
The order halted the actual bidding of the seaport because the amount involved was P11 billion of PPA’s money to compensate the 231 Batangas residents.
Bryan Smith, ATI chairman, said ATI will still join the privatization once the SC clarifies the issue of compensation and PPA resumes the bidding process for the Batangas Port.
“ATI is publicly listed in the Philippines and we want to make sure that the company’s shareholders are not exposed to any additional cost… ,” Smith said.
The second phase of the Batangas Port costs around P5.5 billion and is being funded by the Japan Bank for International Cooperation.
The port occupies a 128-hectare area, bigger than the 20-hectare first phase operated by ATI for domestic traffic.
The second phase would be a mix operation of bulk, break bulk and international containerized cargo. The facility could accommodate 7,000 TEUs (twenty-foot equivalent units).
At present, the port serves as the transport hub of goods in the Cavite, Laguna, Batangas, Rizal and Quezon provinces. It also functions as a terminal for passengers traveling to and from nearby provinces like Mindoro, Marinduque, Romblon and Palawan.