MANILA – Port operator Asian Terminals Inc. (ATI) has allotted P2.8 billion for its capital expenditures this year to upgrade and expand its existing port facilities.
ATI said the budget will be used to acquire container-handling equipment and upgrade its port systems and technologies.
The firm will also be developing new container storage areas at the Manila South Harbor and Batangas port.
In 2014, ATI’s revenues jumped by 25 percent on the back of increased volume in its Batangas container terminal. ATI’s Batangas operations grew by more than 750 percent in 2014 to a record-volume of over 98,000 twenty foot equivalent units (TEUs).
ATI said the robust growth of cargoes at Batangas port as well as foreign exchange gains boosted profits to P1.9 billion last year.