KEXIM OKs Financing Package for New Port in Cebu

Carlos Dominguez III, Image source: Department of Finance

The Export-Import Bank of Korea, also known as the Korea Eximbank (KEXIM), has approved a financing package for the proposed New Cebu International Container Port in Consolacion, Cebu, according to the Philippine News Agency’s (PNA) latest announcement. 

Finance Secretary, Carlos Dominguez III, said that selection of this project for financing by South Korea’s export credit agency was based on its internal rate of return, among others.

The port project, to be located in the village of Tayud in Consolacion, will be constructed in a 25-hectare reclaimed area.

This capital port development scheme has a projected cost of around $182 million, $157 million of which is up for official development assistance (ODA) funding, while share of the Philippine government was set at approximately $25 million, PNA said.

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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