Subic gets P4.1-B hub deal

SUBIC BAY FREEPORT — In a major boost to its logistics and maritime capabilities, the Subic Bay Metropolitan Authority (SBMA) has signed a ₱4.135-billion deal with Subic Bay Freeport Grain Terminal Services Inc. (SBFGTSI) to develop a state-of-the-art multi-modal logistics and transport hub inside the Freeport zone.

The lease agreement was formalized during a ceremonial signing on 28 May at the SBMA Boardroom, with SBMA senior deputy administrator for Business and Investment Renato Lee III and SBFGTSI executive vice president Lester C. Valdes leading the event.

The multi-modal hub is expected to transform Subic into a more competitive and integrated logistics corridor in the Asia-Pacific region.

According to Lee, the project will cover strategic portions of the San Bernardino Road in the Subic Port District and parts of the Subic Bay International Airport (SBIA), enhancing both land and maritime connectivity.

The project includes multiple high-value developments across five key lots: Lot 4, with a ₱660-million investment, will house a state-of-the-art petroleum tank farm; Lot 5, with ₱1.8 billion in funding, will serve as a bulk grain storage facility to support agricultural trade; Lot 6, at ₱801 million, will be developed into an airport logistics hub with facilities for cargo and freight handling; Lot 7, earmarked for ₱20 million, will be developed into a commercial and hospitality area catering to tourists and cruise passengers; and Lot 8, with a ₱854-million budget, will feature cold storage and dry storage warehouses as well as a new wharf designed to accommodate ultra-large cruise ships.