Port operator Globalport Terminals Inc. (GTI) has taken over the port operations at the port of Tagbilaran after it bagged a 15-year contract from the Philippine Ports Authority, reports say.
Globalport pays the PPA a concession fee of P3.903 billion based on the notice of award.
The port operator was given a notice to proceed on May 20, 2022, according to PPA Bohol ports manager James Gantalao.
As this developed, the PPA also implemented a standard tariff for the fees on all services which are being used by all Tier 3 ports in the country.
The Tagbilaran seaport is classified as Tier 3.
Meanwhile, the new passenger terminal building (PTB) at the Tagbilaran sea port was opened to the public on June 5, 2022, a year after it was inaugurated.
Gantalao said that the facility which is able to accommodate up to 2,000 passengers will replace the old PTB which has a capacity of only 500 passengers.