ATI to spend P2.7 B for ports upgrade

The operator of some of the largest ports in the Philippines is increasing its capital expenditures to P2.7 billion this year, seeing the need to expand its capacity as trade recovers here and abroad.

- ELIJAH FELICE ROSALES

According to its financial report, Asian Terminals Inc. (ATI) will raise its capex by 23 percent to P2.7 billion in 2024, from P2.2 billion in 2023, to fund expansion projects and improve existing infrastructure.

For 2024, ATI said it would expand its landside and seaside facilities, purchase new carbon-saving equipment and upgrade its information technology systems.

Further, ATI will start exploring new growth drivers to sustain the business in the long term. For one, it will look into the opportunity of offering ancillary services like smart cargo storage spaces within and outside economic zones.