Posted on October 7, 2024
A P4-billion port project under construction in Lagonglong, Misamis Oriental, is expected to significantly enhance the town’s economy, create jobs, and increase business activity, according to town officials.
The private commercial port, developed by Amadi MGT Terminals Inc., is slated for completion by March 2025.
Mayor Jay Albert Puertas said the ongoing construction of the 40-hectare facility will greatly contribute to economic growth in the town and the wider region.
“This project will play a major role in our future economic development,” Puertas said.
The Bureau of Internal Revenue (BIR) has also projected an increase in tax collection once the port becomes operational.
“This will boost our revenue, but only if the port is registered locally,” said Lawrence Cabeltes, Revenue District Officer for Gingoog City.
He urged the mayor to convince the port owners to register the project in Lagonglong to secure tax benefits for the town.
The first phase of the project, valued at P1.4 billion, will have an annual capacity of 3.3 million metric tons of bulk cargo for both national and international trade.
The port will feature modern storage facilities designed to handle perishable goods, boosting the region’s agricultural and trade capacity.
Agriculture Secretary Tiu Laurel noted that once operational, the port is expected to reduce feed and fertilizer costs by up to five to 10%, benefiting farmers across the region.
“This will enhance the efficiency of transporting vital goods and ensure the quality of agricultural products,” Laurel said.
Board Member Rey Buhisan echoed this sentiment, calling the port project “timely” and a valuable asset for the province’s agricultural sector.
