ICTSI Extends Manila Container Terminal Deal Until 2063

International Container Terminal Services Inc. (ICTSI) has been awarded a 25-year extension to its concession for the Manila International Container Terminal (MICT), allowing the company to continue operating the key Philippine gateway until May 2063.

ICTSI first took over operations at MICT in 1988 under an initial 25-year concession. Before the latest agreement, its existing contract with the Philippine Ports Authority had been due to run until May 2038.

The extension provides ICTSI with an additional 25 years to manage and further develop its flagship facility at the Port of Manila, giving the company greater certainty to invest in infrastructure improvements, modern equipment, and advanced technologies over the long term.

As part of its ongoing expansion plans, MICT is working to increase its annual handling capacity to 3.7 million TEU by 2027.

The project includes a range of modernization initiatives, such as technology-driven terminal enhancements, the introduction of fully electric quay cranes, and the replacement of diesel-powered yard equipment with cleaner alternatives.

In May, ICTSI secured a $300 million loan from the Asian Infrastructure Investment Bank to help fund improvements at MICT, as well as the South Luzon Container Terminal in Batangas and the Mindanao Container Terminal.

The investment is also expected to increase the capacity of the Mindanao Container Terminal to approximately 1 million TEU and expand the South Luzon Container Terminal to 800,000 TEU by 2028.