The Cebu Port Authority (CPA) will finally implement the P580-million dredging project along the stretch from the Cebu International Port (CIP) up to Pier 1 in Cebu City.
The project is intended to accommodate bigger (post Panamax) cargo vessels and international cruise ships.
Carlos Co, a CPA commissioner representing the business sector, said once the project is realized, the present depth of 8.5 meters draft will increase to 12.5 meters draft from the lowest level of tide.
Co, a former president of the Cebu Chamber of Commerce and Industry (CCCI), said the CPA borrowed money from the Land Bank of the Philippines to finance the project.
The amount of the loan will be released by the bank on installment basis, depending on the accomplishments of the contractor.
A public bidding will still be held to choose a contractor.
In the past years, big vessels from other countries could not enter CIP to unload imported shipments and load export goods because of low draft, resulting in the loss of the CPA’s additional revenue opportunities.
The dredging project was approved by the Cebu Port Commission, the CPA’s policy-making body, during the time of former general manager Angelo Verdan.
The project, however, was put on hold because of the change of administration last year.
Verdan had said the project initially covered the area within the vicinity of CIP.
It was later expanded up to Pier I because cargo vessels and international cruise ships passed by Pier 1 before reaching the CIP.
Co said the project will benefit both the importers and the exporters because they can now direct calls by big ships.
He said it can also complement the P230-million bulk cargo handling equipment at CIP, which is a joint venture of CPA and the Oriental Port and Allied Services Corp (Opascor).
Opascor president and general manager Tomas A. Riveral said it will be economical for businessmen to ship cargoes in bulk using their new equipment because the loading and unloading will be faster.
( usnewslasvegas )
[mappress]
Source: usnewslasvegas, February 11, 2011