Firm offers to develop, run Davao port - News Summed Up

Firm offers to develop, run Davao port


Dennis Uy-led Chelsea Logistics Holdings Corp. wants to rehabilitate and operate Davao’s Sasa Port and has submitted a P16-billion unsolicited proposal to the Transportation department. Davao City Mayor Sara Z. Duterte earlier this month said that the modernization of the 80,000 square meter Sasa Port would start next year. The company will “start looking” at other ports once the government acts on the Sasa proposal, he added. Last week, Chelsea announced the acquisition of two vessels that brought its fleet size to 88. Chelsea’s shares rose 1.67 percent on Monday to P4.88 amid a 0.39-percent drop for the benchmark Philippine Stock Exchange index.


Source: Manila Times October 08, 2018 18:45 UTC



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