In Manila, Philippines they are gearing up for an expected increase in their regional economy, that experts have forecasted will occur over the next few years. In fact, Asian Terminals Inc. (ATI) has announced a major investment, with plans to expand the capacity of Manila’s South Harbor port, in order to accommodate the expected long-term increases; in both ships and shipping container volumes.
The ATI chairman stated “Our plan for the next the years is probably to increase the terminal capacity within the range of 30-40 percent, that’s what we’re targeting. If the Philippines (economy) is much more robust in terms of volume growth, we have no problem of doubling the terminal capacity, in case it is needed.” He continued by saying “We will have a very aggressive plan. We want to modernize the terminal, make it extremely competitive to make sure that the company stay and remain on the leading edge, in terms of equipment in the terminal; because it is fundamental to ATI culture.”
It is expected that the Philippines could be a major geographical shipping port, and popular spot for private investment, as the economies in the Asia-Pacific Rim continue to expand at a healthy rate; to meet the growing consumer demand.