ATI readies bigger capex at P 2.7B
Asian Terminals Inc. (ATI), which operates seaports in Manila, Laguna, Batangas and Cavite, is earmarking P2.7 billion in capital expenditures this year to upgrade facilities and acquire more equipment.
The amount is bigger than ATI’s capex in 2023 when the company invested P2.2 billion for port expansion projects, which include the Batangas Passenger Terminal Phase 2 and Cavite Barge Terminal. It also bought additional modern equipment and implemented smart IT systems.
The listed port operator, in its recent financial statement, said it was improving its cargo handling and passenger operations to prepare for the anticipated growth in the market following the easing of pandemic-induced lockdowns.
“The capital investment will support the expansion of seaside and landside facilities, acquisition of more modern and greener equipment to boost its carbon reduction program, progression of its auto-gate infrastructure and other smart IT (information technology) systems, and execution of integrated logistics solutions leveraged on ATI’s port infrastructure,” the company said.
Along with this, ATI said it was looking into developing smart cargo store spaces at port zones. It has also set sights on potentially setting up new port operations here or abroad, depending on market conditions.
“Anchored on its port-centric and customer-focused business philosophy, ATI continuously enhances its trade and transportation infrastructure in Manila and Batangas, which primarily serve as premier gateways for mega-Manila and Calabarzon, respectively,” the firm said.
Last year, ATI saw its net income attributed to equity holders of the parent company rise by 47 percent to P4.4 billion. INQ
