DAVAO CITY, Philippines—The Anflocor Group of Companies, which is owned by the Floirendo family, announced it will build an international container terminal in Panabo City in Davao del Norte in the first quarter 2012.
Alexander Valoria, Anflocor president and chief executive officer, said the company finalized a deal with Aboitiz Construction last week for the P2.7-billion container terminal project, which will rise on what used to be the wharf of the banana producer Tagum Development Corp., also owned by Anflocor.
“We are bullish that this project will catalyze the economic development of the region by enhancing globe trade through the construction of the modern container port facility,” Valoria said in a statement e-mailed to the Inquirer on Thursday.
He said Anflocor planned to start operation of the terminal in the first quarter of 2013.
“This project is seen to create faster turnaround time of vessels, orderly ingress and egress resulting in faster turnaround of delivery trucks, reliable plug-in facilities for reefer cargo and the capacity to accommodate larger vessels due to its deep draft,” Valoria said.
On the local economy, he said Anflocor has projected that the container terminal will generate investments and more job opportunities.