The 10-hectare public grains terminal, located along the coast line of Tayabas Bay in Sariaya, Quezon, has a total project cost of P3.2 billion.
United Coconut Planters Bank (UCPB) extended a P1.6-billion loan facility with a five-year repayment period for the project while the Philippine Export-Import Credit Agency (PhilEXIM) provided a comprehensive guarantee for the term loan.
Other financiers are the European Investment Bank (EIB) and the Philippine Bank of Communications (PBCom).
"Of the total P1.6-billion loan, P800 million was used to acquire the sophisticated grains handling equipment from the US and Europe, and the balance for the purchase and importation of grains from foreign and local producers," said UCPB senior vice president for corporate and investment banking Sebastian Santiago III.
With 14 silos and a flat warehouse, the facility will be the biggest in Southeast Asia, Santiago added.
The grains terminal will provide the country with a modern post-harvest facility, which the domestic agriculture sector and local agri-businessmen need to remain competitive under the liberalized environment created by World Trade Organization (WTO) agreement and Asean Free Trade Agreement (AFTA).
It has a deep-water port that can accommodate cape-size ships, which are the largest type of cargo ships for grain shipment.
Santiago said NGI has installed fully-automated grains handling facilities that can offload cargo in less than five days, and load them in bulk or in bags onto trucks from the silos and warehouse.
The facility will be employing two ship unloaders that can handle 16,000 MT daily. The grains will be brought directly from the ships to the warehouse or silos by computer-controlled conveyors and plastic bucket elevators, and from there, loaded onto trucks or trailers in bulk or bagged using a semi-automatic bagging system with a digital weighing system.
A dust control system will ensure that dirt is not released into the air during the process. The NGI facility will also have a laboratory that can test the grain products for moisture content and other relevant data.
With its bulk shipment and cargo handling facility, the terminal will allow local agri-businessmen to enjoy bulk discount, direct route to terminal, shorter travel time, lower shipping cost, shorter unloading time and reduced spoilage and pilferage cost.