SUAL – A proposed international seaport with a project cost ranging from $1.2 billion to $2 billion will break ground next year if plans don’t miscarry.
Sual Mayor Roberto Arcinue in an interview said the seaport will be built and operated by several foreign investors, whose names he did not mention.
“We are now in the phase of feasibility study and inspection of the area,” he said.
Arcinue said the international seaport project will cover the area of the existing seaport funded by the Philippine Ports Authority.
As originally planned, the project was to be funded with P500 million by PPA with contributions from Department of Transportation and Communication, P200 million from the provincial government, and P100 million from the local government of Sual. It was to be done in three to four years beginning 2011.
However, the existing seaport could only accommodate barges and RORO vessels since only the first phase was completed.
“The PPA has no budget. They haven’t updated me, still, on the development of the project,” Arcinue said.
Governor Amado Espino Jr. said that even with the provincial government’s counterpart worth P200-million and the P100-million from the local government of Sual, the completion of the second and third phases of the Sual Seaport is not possible.
He noted at least P700-million is actually needed for the two phases of the project.
Arcinue said they could no longer provide their P100-million counterpart.
The Mayor said the new project, the international seaport, will allow big vessels to dock thus allowing shipping of products.
“If there is Clark in Pampanga, Subic in Zambales, there will be Sual in Pangasinan, which might be a bigger and better seaport,” he remarked.
Arcinue cited, the investors composed of Chinese, European, American, Middle East locals, and even Filipinos have existing projects in Dubai and China.