ICTSI has secured a 25‑year extension of its concession to operate the Manila International Container Terminal, keeping the facility under its management through May 2063.
The extension follows an agreement signed with the Philippine Ports Authority, extending the original concession that was set to expire in May 2038. The initial contract, awarded through an international tender in 1988, allowed for a 25‑year term with the possibility of a further 25‑year extension.
MICT is the largest and busiest terminal in the Port of Manila, handling roughly 70 percent of the port’s container traffic. Its strategic position supports the country’s growing trade volumes.
The company is expanding MICT’s capacity through the Berth 8 project, which will accommodate vessels with up to 18,000 TEUs and add 200,000 TEUs of annual handling capacity, raising the terminal’s total throughput to 3.5 million TEUs.
The second phase of the Berth 8 project includes a 300‑meter wharf, a 10‑hectare container yard, and three quay cranes capable of servicing 18,000‑TEU vessels. The cranes are scheduled to arrive in 2027.
ICTSI operates 33 terminals in 20 countries across six continents, serving a global network of ports.
Shares of the company closed unchanged at P980 per share on the local bourse.
