PPA eyes 15% revenue increase in 2024

The Philippine Ports Authority (PPA) is targeting a 15 percent revenue increase this year, beating its P25.44 billion income posted in 2023.

PPA general manager Atty. Jay Daniel Santiago, during the “Kapihan sa Pantalan” which kicked-off PPA’s 50th Anniversary celebration on Tuesday at South Harbor, Manila, said the agency is also eyeing to surpass the P5.06 billion dividends it submitted to government coffers in 2023, to P5.500 billion this year, or an increase of P.44 billion.

Santiago unveiled #LIMAPOSALIMAMPU, launching 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.

Safety and comfort

“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.

He noted that aside from the five projects already operating and rolled out, other big-ticket projects are in the pipeline targeted to be finished by 2028; the PPA is earmarking P16 billion as budget for these projects in the next five 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, all in the Luzon cluster.

Visayas projects

In the Visayas, meanwhile, eight projects are lined up, namely the construction of a 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 Bacolod City, Negros Occidental, and Ormoc Port Extension Project in Leyte.

For Mindanao, the PPA will 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.