The Subic Bay Metropolitan Authority (SBMA) and Subic Bay Freeport Grain Terminal Services, Inc. have forged an agreement for the establishment of a P4.135-billion multi-modal logistics and transport hub inside the Freeport.
The two parties formalized the partnership through the signing of lease contracts and amendments for the logistics and transport hub, which is seen to boost economic activity and generate employment in the area and surrounding communities.
Under the agreement, the project will integrate sections of San Bernardino Road within the Subic Port District and portions of the Subic Bay International Airport.
The proposed logistics complex will include grain storage, a petroleum tank farm, dry and cold storage warehouses, an airport logistics hub, a hospitality center for cruise ship passengers, and a new wharf designed to accommodate ultra-large vessels.
The facility is projected to create about 798 jobs and strengthen Subic’s role as a logistics and tourism gateway in Central Luzon.
“This is a huge step for Subic Bay Freeport as it reaches its goal to have a more modern air and seaport which are expected to boost the port’s capacity, increase competitiveness, and generate more revenue,” said Renato Lee III, SBMA Senior Deputy Administrator for Business and Investment.