Asian Terminals will formally takeover today the development and operation of a portion of the Batangas Port, according to Philippine Ports Authority general manager Oscar Sevilla, the Manila Standard reported.

   He said he had signed a US$200-million contract giving Asian Terminal the authority to operate and manage Container Terminal A-1 in Phase II of Batangas Port for 25 years
Leopoldo Bungubung, PPA assistant general manager for operations, said the contract included a fixed fee of $124 million for 25 years and an annual variable charge of $64 million.