Philippines green lights $185m container terminal at Cebu

The Philippine government has approved construction of the 500,000-TEU New Cebu International Container Port, with construction scheduled to begin in third quarter 2017, according to multiple media reports.    The government of the Philippines has approved construction of a new, 9.2 billion Phillipine peso (U.S. $185 million) container terminal at the Port of Cebu, according to multiple media reports.
   Construction of the 500,000-TEU capacity New Cebu International Container Port is scheduled to begin in third quarter 2017 and the port is expected to be operational by second quarter 2020.
   The new port terminal will be located at Barangay Tayud, Consolacion, about five miles from the existing Cebu Port Authority (CPA) terminal. At 45 feet, Barangay Tayud has a much deeper harbor depth than the current CPA terminal.
   Development of the new facility will reportedly be funded by the Philippine national government, along with the government of South Korea.
   Cebu Port handled a total of 829,146 TEUs of loaded and empty containers in 2015, a 17.1 percent increase from 2014 volume levels, according to figures on the CPA website.