Philipings President Gloria Macapagal-Arroyo is expected to officiate at the July 19 inauguration of the first phase of the US$215 million Subic Port Modernisation project, reports news balita. com.

The project, funded by the Japan Bank for International Co-operation (JBIC), was designed to make the Subic seaport a major container port in the country.

Subic Bay Metropolitan Authority (SBMA) chairman Feliciano Salonga said that the port project is part of the government's plan to make Subic Bay and Clark Freeport zones growth corridors for investment.

Mr. Salonga said the alliance between Subic Bay and Clark is part of the long-term master plan that would be linked through the construction of the $425-million Subic-Clark toll road.

Construction commenced in 2004 as implemented by Penta Ocean Corp., with its partners Shimitsu Corp and TOA Corp, through a joint venture. It involved the installation of four gantry cranes. Two were installed in May 2006 and the other two last March. This will eventually position the Subic port as a world-class economic hub, said Mr. Salonga.