Seven bid for Subic Bay

Seven port handlers have qualified to bid for a 25-year contract to upgrade and operate a cargo terminal at Subic Bay Freeport, according to the Philippine Daily Inquirer.

The seven are International Container Terminal Services, Asian Terminals, P&O Australia Port, Peony Investment, Royal Port Services, Hutchison Ports Philippines and International Transport Services.

The companies have until July 1 to submit bids and business plans, and the winner is expected to be named in August.