THE Cebu Port Authority (CPA) has obtained a P1 billion loan from the Development Bank of the Philippines (DBP) to finance the construction of a ramp extension and a fastcraft terminal.
CPA General Manager Angelo Verdan said that of the P1 billion, P650 million will be allocated for the ramp project, and the other P350 million will be for the fastcraft terminal.
Verdan said that while the CPA will pay the loan using its income, he assured the public that they will not raise any fee, considering that, for several years now, the agency has been an earning government-owned and controlled corporation.
He said all project documents passed through its attached agency, the Department of Transportation (DOTr) and the National Economic and Development Authority (Neda) Board, which President Rodrigo Duterte chairs.
The terminal will be built at Pier 4, erstwhile used by Supercat but vacated when an earthquake on Oct. 15, 2013 destroyed the old structure.
It is also near the docking area of Trans Asia Corp.
Verdan said that with the terminal, all fastcrafts from the different shipping lines will dock in one place. One fastcraft fleet is docking at Pier 1, while the other is at Pier 3.
On the other hand, the ramp extension will be built at Berthing 7 and Berthing 8, which are adjacent to the Cebu International Port and stretches about 25 meters to the sea.
“Once the ramp is extended, big international vessels can dock in the area even at low tide,” Verdan said. (EOB)