Cebu: Construction of the New Cebu International Container Port (NCICP) broke ground on Wednesday to address cargo congestion at the Cebu Base Port and improve the turnaround of commercial vessels in the region. Department of Transportation (DOTr) Secretary Jaime Bautista stated that the NCICP will address the current bottlenecks in the logistics chain, promote faster and more cost-efficient transport of goods, and enhance the competitiveness of local businesses and industries.
According to Philippines News Agency, the benefits of the new cargo port extend beyond its physical structure. Users will save money through reduced vessel waiting costs, decreased transport and congestion-related costs, and increased income from land leases. The project is expected to generate a wide array of advantages for users, the local community, and the public sector. These include job creation, more opportunities for local businesses, development of regional industries, improved competitiveness of local industries, and establishing Cebu as a regional logistics hub.
The PHP16.93-billion cargo port project is implemented through an official development assistance (ODA) scheme from the Export-Import Bank of Korea (KEXIM) and transaction adviser International Finance Corporation of the World Bank. The NCICP will be completed by the second quarter of 2028 and will be built on a 25-hectare reclaimed island with a 500-meter berth length and a negative 12-meter water depth. It will be capable of serving two 2,000 twenty-foot equivalent unit (TEU) vessels simultaneously using five quay cranes and with an access road of 1,365 meters to connect the port through the 300-meter offshore bridge.
The project is also expected to boost economic engagement between the Philippines and South Korea, particularly with the bilateral free trade agreement (FTA) already in effect. The Korean Embassy in Manila highlighted the potential increase in trade and cargo volumes between the two countries, with the NCICP serving as an important base for economic cooperation and people-to-people exchanges.
South Korean Ambassador to the Philippines Lee Sang-hwa expressed optimism that the project would transform Cebu into a key maritime hub in Southeast Asia. He noted that the construction of the new port is expected to significantly improve Cebu’s cargo handling capacity and logistics efficiency, attract investment, and positively impact the entire Visayas region.
The groundbreaking ceremony occurred just over a month after the signing of the civil works contract for the Cebu New Port Project at Malaca±ang Palace on Dec. 18, 2024, in the presence of President Ferdinand R. Marcos Jr. Both Bautista and Cebu Governor Gwendolyn Garcia expressed gratitude for Korea’s continued support and cooperation for the development of the Philippines, emphasizing the project’s positive impact on improving the quality of life of Filipinos. The groundbreaking follows last year’s Philippine-Korea bilateral summit, which elevated the relationship to a strategic partnership.
