BCDA generates P50M, jobs from port takeover

BCDA generates P50M, jobs from port takeover | Daily Tribune

The decision of the Bases Conversion and Development Authority (BCDA) to take over a freeport zone in La Union had already generated P50 million in revenues. It produced more than 3,000 jobs for locals.

On Sunday, the BCDA-led Poro Point Management Corp (PPMC) reported that it had earned P50 million in profits from December 2024 to May 2025 during its interim operation and management of the San Fernando International Seaport in the Poro Point Freeport Zone, La Union.

Furthermore, the port’s growing viability as a key logistics hub in Northern Luzon has also created approximately 3,200 jobs in the first half of 2025.

The report indicated earnings came from port leases, vessel and cargo fees, and government shares from port services, with rates aligned to Philippine Ports Authority benchmarks to ensure competitiveness and regulatory compliance.

Dynamic economy ensured

With this, BCDA president and CEO, Engr. Joshua Bingcang said they welcomed the milestone as a step toward a more dynamic and connected regional economy.

“This performance affirms the potential of San Fernando International Seaport as a vital logistics and investment hub. As we continue to modernize our ports, we are opening more doors for trade, employment, and inclusive growth in the region,” Bingcang said.

PPMC has carried out major repairs and upgrades across the port estate from December 2024 to May 2025 to further support the said growth.

Upgrades implemented

To date, the completed improvements include the refurbishment of port offices and basic facilities, replacement and repositioning of rubber fenders and concrete curbs, conversion of port lighting systems to LED, upgrading of electrical lines at Piers 1 and 2, the establishment of a systematic waste disposal mechanism and janitorial maintenance, and coordination with third-party experts for technical assessments and benchmarking with PPA and Subic Bay Metropolitan Authority.

“The rehabilitation and expansion of the San Fernando International Seaport will help drive opportunities for the local community in Northern Luzon. It will create jobs for residents, bring in new businesses, and gain traction in the tourism sector,” PPMC PCEO and OIC chairperson Felix Racadio said.

Developed through public consultation, a new tariff structure for cargo handling and port service fees was approved by the PPMC Board in April 2025, which already took effect last 5 June 2025, enabling more stable and sustainable revenue streams moving forward.

Additionally, PPMC reaffirmed its policy on inclusive employment, requiring at least 85 percent of port service personnel to come from the City of San Fernando and the Province of La Union.