Mindanao International Container Terminal Services Inc. (MICTSI), a subsidiary of International Container Terminal Services Inc. (ICTSI), has secured a 25-year extension to operate and manage the Mindanao Container Terminal (MCT).

The extension, awarded by the PHIVIDEC Industrial Authority, allows MICTSI to continue managing the MCT until 2058.

ICTSI said MCT is a key gateway for trade in the southern Philippines. It is located within the PHIVIDEC Industrial Estate in Tagoloan, Misamis Oriental.

US$100M investment planned

"To enhance the terminal's capacity and efficiency, MICTSI plans to invest more than US$100 million in infrastructure upgrades. The investment includes a 300-meter berth extension and the acquisition of new equipment to handle the expected growth in cargo volumes," ICTSI said in a statement.

It added that these enhancements are projected to significantly boost the terminal's annual capacity from its present 350,000 twenty-foot equivalent units (TEUs). 

The new berth will also enable the shipping industry to deploy larger ships on new service routes to support growth and demand from Mindanao's importers and exporters.

"ICTSI is proud to continue our work at Mindanao Container Terminal, a critical hub for trade in southern Philippines," said Aurelio C. Garcia, MICTSI president and general manager.

"This extension allows us to implement our vision for the terminal’s future, with significant investments in new technology and infrastructure to meet the evolving needs of our customers and the region," he added.

ICTSI said the extension highlights the strong partnership between ICTSI and PHIVIDEC-IA in developing critical infrastructure to facilitate trade and drive economic growth in Mindanao, the southernmost region of the Philippines known for agriculture exports.