Trade Secretary Cristina Roque met with I Squared Capital managing director Kunal Agarwal and operating adviser Nishant D’Souza on Oct. 10 at Hilton Singapore Orchard, on the sidelines of President Ferdinand Marcos Jr.'s visit to Singapore.
The meeting reviewed the progress of the investment firm's projects and identified areas where government assistance could help speed up implementation.
“I Squared Capital’s strategic investment directly addresses our core economic priorities—improving our energy security, modernizing cold chain logistics, and strengthening digital connectivity. These high-impact projects reinforce the Philippines’ position as a premier, competitive base for regional operations and industrial growth,” Roque said.
Fuel infrastructure
I Squared Capital reported progress on new fuel storage facilities in Batangas and Davao being developed through its Philippine Coastal Storage and Pipeline Corp.
The company also stores more than one million barrels of strategic fuel reserves for the Philippine National Oil Co. (PNOC).
It has signed two memoranda of understanding with the Bases Conversion and Development Authority for a proposed Subic-Clark fuel pipeline and a potential liquefied natural gas-to-power project in Subic Bay.
These investments are intended to strengthen fuel storage and distribution infrastructure while supporting the country's growing energy requirements.
Cold chain expansion
Beyond energy infrastructure, I Squared Capital is expanding Royale Cold Storage's operations beyond Luzon, with developments underway in Cebu and Davao.
The expansion could improve temperature-controlled logistics for agricultural products and other perishable goods, helping businesses reduce spoilage and strengthen distribution networks.
The firm currently employs more than 2,500 workers in the Philippines.
In October 2025, I Squared Capital committed an additional $1 billion over two to three years, on top of more than $1 billion already invested in the country.
The commitment coincided with the expansion of Royale Cold Storage's facility in Plaridel, Bulacan.
Further investments
I Squared Capital also expressed interest in telecommunications towers, data centers and hospitals.
Roque identified healthcare, agricultural technology, logistics, energy and connectivity as priority sectors for further investments.
“Our primary mandate at the DTI is to translate investor commitment into operational momentum. Under President Marcos Jr.’s administration, we will work closely with I Squared Capital and the concerned agencies to address requirements, facilitate approvals, and move qualified projects forward through our Green Lanes and CREATE MORE incentives. We are keen on investments that will deliver results that Filipinos can see and benefit from,” Roque said.
The DTI will coordinate with concerned government agencies to facilitate approvals, address regulatory requirements and monitor the implementation of the firm's investment commitments. —Ed: Corrie S. Narisma
