The deal gives the Enrique Razon-led port giant fresh firepower to expand cargo capacity and modernize operations as it leans on rising trade flows and long-term infrastructure demand to sustain growth.
The China-led multilateral lender will fund upgrades at the Manila International Container Terminal, the South Luzon Container Terminal and the Mindanao Container Terminal, including the rollout of electric quay cranes and the replacement of diesel-powered equipment.
Together, the projects are expected to lift MICT’s annual capacity to 3.7 million TEUs by 2027, while Batangas and Mindanao are projected to handle a combined 1.8 million TEUs by 2028.
“ICTSI welcomes this promising partnership with the AIIB, which supports our expansion and sustainability initiatives," said Razon, the chair and president of of ICTSI.
" We value AIIB’s shared commitment to long-term value creation, inclusive economic growth and responsible business practices, and as such, look forward to strengthening our partnership and accomplishing more together," he added.
The transaction is significant because AIIB’s previous Philippine deals were sovereign-backed, underscoring growing institutional confidence in privately operated infrastructure assets.
For International Container Terminal Services, the funding also strengthens its ability to keep expanding while competitors across Asia race to upgrade ports amid growing pressure on global supply chains.
The deal comes as ICTSI continues to scale up aggressively despite rising geopolitical risks and fears that the ongoing Middle East conflict could slow trade flows and pressure global economic growth.
—Edited by Miguel R. Camus
