ICTSI gets 25 years more at Manila port

MANILA, Philippines — Global ports giant International Container Terminal Services Inc. (ICTSI) has locked in a deal that will allow it to operate its largest and busiest container terminal at the Port of Manila through 2063.

In a disclosure on Thursday, the Enrique Razon Jr.-led ports operator said it had signed an agreement with the Philippine Ports Authority to extend its concession over the Manila International Container Terminal (MICT) by another 25 years.

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This pushes back the expiration of ICTSI’s contract to May 2063 from May 2038.

“The renewal underscores ICTSI’s long-term commitment to further developing MICT to support the continued growth of Philippine trade and the country’s economic development,” the company said.

By securing a long-term extension for its flagship port, ICTSI cements its control over the largest and busiest of the three container terminals at the Port of Manila. MICT accounts for about 70 percent of total Manila port volumes.

The extension also comes after MICT posted a record year in 2025, handling 3 million twenty-foot equivalent units (TEUs), the highest annual container volume in the terminal’s history.

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Expansion works are also underway at MICT, including the construction of Berth 8, which is expected to increase the terminal’s capacity to 3.5 million TEUs. The project includes a 300-meter quay and a combined quay and yard development covering 12 hectares.

More than half of that project, or 6.5 hectares, is already operational, while three quay cranes are scheduled for installation by 2027. INQ