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), according to the company's release.
The extension, awarded by the PHIVIDEC Industrial Authority, allows MICTSI to continue managing the MCT until 2058. Located within the PHIVIDEC Industrial Estate in Tagoloan, Misamis Oriental, the MCT serves as a key gateway for trade in southern Philippines. To enhance the terminal’s capacity and efficiency, MICTSI plans to invest more than USD100 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. 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 enable the shipping industry to deploy larger ships on new service routes to support growth and demand from Mindanao's importers and exporters. Additionally, the expansion project will further promote PHIVIDEC’s agenda to grow its locator base.
The extension highlights the strong partnership between ICTSI and PHIVIDEC-IA in developing critical infrastructure to facilitate trade and drive economic growth in Mindanao.