The construction of the New Cebu International Container Port (NCICP) commenced with a groundbreaking ceremony held in Barangay Tayud, Consolacion, Cebu. The event, attended by Department of Transportation (DOTr) Secretary Jaime Bautista, signifies a major step towards resolving cargo congestion issues at the Cebu Base Port and enhancing the efficiency of commercial vessel operations in the area.
Secretary Bautista highlighted that the NCICP will not only alleviate current logistical bottlenecks but also foster a more cost-effective and swift movement of goods. This development is expected to bolster the competitiveness of local businesses and industries, contributing to a robust and dynamic regional economy.
The new port is anticipated to offer significant financial benefits to its users by reducing vessel waiting times, transport costs, and congestion-related expenses. Additionally, it will generate increased revenue from land leases. Bautista emphasized that the project’s impact extends beyond its infrastructure, promising job creation, enhanced opportunities for local businesses, and the growth of regional industries. It aims to position Cebu as a pivotal logistics hub in the region.
The national and local governments are also set to gain from the project through higher tax revenues and environmental savings due to improved operational efficiency. Funded by a PHP16.93-billion official development assistance from the Export-Import Bank of Korea (KEXIM) and advised by the International Finance Corporation of the World Bank, the NCICP is slated for completion by Q2 2028. The port will be constructed on a 25-hectare reclaimed island, featuring a 500-meter berth and a 12-meter water depth, capable of handling two 2,000 TEU vessels simultaneously with five quay cranes and a 1,365-meter access road connected by a 300-meter offshore bridge.
The project is also expected to strengthen economic ties between the Philippines and South Korea, particularly following the implementation of their bilateral free trade agreement. The Korean Embassy in Manila noted that with Korean tourists being the top visitors to the Philippines, and with the FTA in effect, trade and cargo volumes between the two nations are poised for significant growth. The NCICP is seen as a vital base for economic and cultural exchanges between the countries.
South Korean Ambassador to the Philippines, Lee Sang-hwa, expressed optimism that the new port will transform Cebu into a key maritime hub in Southeast Asia, boosting its cargo handling capacity and logistics efficiency, attracting investments, and benefiting the entire Visayas region. The groundbreaking ceremony, held shortly after the civil works contract was signed at Malacañang Palace in the presence of President Ferdinand R. Marcos Jr., underscores the continued support and cooperation from Korea in the development of the Philippines. Both Secretary Bautista and Cebu Governor Gwendolyn Garcia acknowledged Korea’s contributions and highlighted the project’s potential to improve the quality of life for Filipinos.
This initiative follows last year’s Philippine-Korea bilateral summit, which upgraded their relationship to a strategic partnership, further solidifying their commitment to mutual growth and prosperity.