Subic Bay Freeport may become one of the top premier global ports with the establishment of a P60-billion project by an Australian company, the Subic Bay Metropolitan Authority said Friday. Garcia said AIA would be joined by another Australian firm, which will buy into the company for the new operations. “The business model of the company is to export from Australia to China, Japan, and other Asian countries, via airplanes,” Garcia said. The SBMA board approved the new investment in principle after the proponents showed proof of funds, Garcia said. The company will import meat, seafood and other agricultural products from Australia by plane or by ship for processing and customized packaging based on customer specifications in the Subic free port.

Source: The Standard August 05, 2016 15:45 UTC