Philippines: ANFLOCOR signs loan for Davao International Container Terminal
The two firms sealed the syndicated facility with Bank of the Philippine Islands and Security Bank in a signing ceremony held on April 2nd, 2012 at Marco Polo Hotel Davao.
“We are very glad that Bank of the Philippine Islands and Security Bank believe in this project and are facilitating the financial requirements of the Davao International Container Terminal,” said Oscar V. Grapa, Chief Financial Officer of ANFLOCOR.
The deal was arranged by BPI Capital Corporation and SB Capital Investment Corporation.
"BPI sees the immense value of the project to Davao’s economy in being able to create jobs, substantial logistics savings, and to promote the global competitiveness of Davao’s banana export industry," stated Aurelio R. Montinola III, President of BPI.
SB Corporation President Alberto S. Villarosa also noted the positive impact of the project to the economic growth in the Davao region.
"We thank the management of ANFLOCOR Group for entrusting the financial part of the project to both BPI and Security Bank," Villarosa added.
The eight-hectare container terminal aims to support Mindanao’s expanding international banana exports by providing progressive container port services. It will feature modern ship to shore cranes, expansive plug-in facilities and an average draft of 15.5 meters which can accommodate large international vessels.
Davao International Container Terminal is also foreseen to support the position of the Philippines as the third largest exporter of Cavendish bananas in the world.
Gracing the signing ceremony for the loan facility for Davao International Container Terminal are (seated l-r) Ricardo R. Floirendo, Senior Vice President of ANFLOCOR, Alberto S. Villarosa, President of SB Corporation, Antonio Floirendo, Jr., Vice Chairman of ANFLOCOR, Aurelio R. Montinola III, President of BPI, Vincent R. Floirendo, Vice President of ANFLOCOR, Cecilia L. Tan, President of BPI Capital Corporation, (standing l-r) Luis Martin E. Villalon, Director of SB Capital Investment Corporation, Federico C. Galang III, Executive Director of SB Capital Investment Corporation, Victor Q. Garcia, Vice President of BPI, Loretta G. Mangilit, First Vice President of SB Corporation, Oscar V. Grapa, Chief Financial Officer of ANFLOCOR, and Barbara C. Untalan, Vice President of BPI Capital Corporation.