PPA eyes 15% revenue increase for 2024

The Philippine Ports Authority (PPA) targets a 15 percent revenue increase in 2024, beating its P25.44 billion income posted in 2023.

PPA general manager, Atty. Jay Daniel Santiago, during the ‘Kapihan sa Pantalan’ and the kick-off of its 50th Anniversary celebration on Tuesday at South Harbor, Manila, said they are also eyeing to surpass the P5.06 billion dividends submitted to the government coffers as of 2023, to P5.500 billion for the year 2024, an increase of P.44 billion.

Moreover, Santiago unveiled the #LIMAPOSALIMAMPU, launching the five new port projects, namely, the Law Enforcement Building at the Port of Currimao; PPA-Philippine Coast Guard Academy in Pampanga; Expansion of Balanacan Port Project in Marinduque; Tubigon Port Passenger Building in Bohol, and the Cruise Ship Port in Dapa, Surigao del Norte, all already been used and inaugurated.

“We are giving back five projects for the people to use. These projects have the common denominator of safety and comfort to our port users, especially the passengers,” Santiago said.

Santiago noted that aside from the five projects already operating and rolled out, there are other big-ticket projects in the pipeline targeted to be finished by 2028, earmarking a P16 billion budget for the next four years.

These include Port Capinpin Expansion in Orion, Bataan, Currimao Port Expansion and Restoration, Jose Panganiban Port Improvement project in Camarines Norte, Balogo Port in Camarines Sur, and Wharf in Claveria Port of Cagayan, included in the Luzon cluster.

For the Visayas cluster, eight projects were lined up, namely the construction of Wharf and operational area in Catacbacan Port in Loon, Bohol; Tapal Port Expansion Projects in Ubay, Bohol; Babatngon Port in Leyte; Banago Port improvement project in Negros Occidental, and Ormoc Port Extension Project in Leyte.

For the Mindanao cluster, PPA would construct a Cargo Ship Port in Dapa, Surigao Del Norte; the upgrading of General Cargo Berth in Davao City Port of Sasa, and Plaridel Port Extension in Misamis Oriental.

“If the project cost for this is less than P1 billion, the PPA doesn’t need outside funding or PPP (public-private partnership) for that. We will implement it on our own. I want to be able to implement something that I know would be implemented within our budget. We will finish it the best that we can, as we don’t want to leave projects undone before my term ends,” Santiago told reporters.

PPA was established in 1974 under Presidential Decree No. 505, later amended by P.D. No. 857 by Former President Ferdinand Marcos Sr. which aims to be the country's maritime agency responsible for planning, development, and management of the country's ports.

Committed to fostering efficient, modern, and sustainable port infrastructure projects to support national development and global connectivity, PPA has been serving the people and connecting the Philippine islands to the world.