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The Department of Trade and Industry is accelerating the progress of I Squared Capital’s US$2-billion investment commitment in the Philippines involving fuel storage, pipeline, and cold storage projects to secure expedited government support
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Trade Secretary Cristina Roque said they “will work closely with I Squared Capital and the concerned agencies to address requirements, facilitate approvals, and move qualified projects forward” through the government’s Green Lanes and CREATE MORE incentives
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I Squared Capital reported progress on its investments, including new fuel storage facilities being built in Batangas and Davao by its Philippine Coastal Storage and Pipeline Corp.
The Department of Trade and Industry (DTI) is accelerating the progress of I Squared Capital’s US$2-billion investment commitment in the Philippines, actively reviewing the development of the firm’s fuel storage, pipeline, and cold storage projects to secure expedited government support.
DTI Secretary Cristina Roque in a statement said they “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.”
“Our primary mandate at the DTI is to translate investor commitment into operational momentum… We are keen on investments that will deliver results that Filipinos can see and benefit from,” she added.
Established under Executive Order No. 18, the Green Lane for Strategic Investments streamlines the approval process by providing investors with a single entry point through the One-Stop Action Center for Strategic Investments. Republic Act No. 12066, or the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act, meanwhile, amends the 1997 National Internal Revenue Code and improves the nation’s fiscal incentives policies.
Roque met with I Squared Capital’s Managing Director Kunal Agarwal and Operating Advisor Nishant D’Souza on October 10, on the sidelines of President Ferdinand Marcos Jr.’s visit to Singapore.
“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.
The meeting built on the global infrastructure investor’s earlier engagements with Marcos and members of his Cabinet, where its investment commitments were made.
Additional investment
In October 2025, I Squared Capital paid a courtesy call on the President regarding its plans to invest an additional $1 billion over two to three years, on top of the over $1 billion it had already invested, bringing its total commitment to $2 billion.
On October 24, 2025, I Squared Capital broke ground on a $130-million, 1.5-hectare expansion of Royale Cold Storage (RCS) in Plaridel, Bulacan. The project is part of the $2-billion investment commitment of I Squared, which acquired a controlling stake of RCS in June 2025.
READ: I Squared breaks ground on $130M Bulacan cold storage expansion
Project updates, expansion plans
During the Singapore meeting with Roque, I Squared Capital reported progress on its investments, including new fuel storage facilities being built in Batangas and Davao by its Philippine Coastal Storage and Pipeline Corp. (PCSPC), which also stores over one million barrels of strategic fuel reserves for the Philippine National Oil Company (PNOC). I Squared in 2024 announced it is acquiring PCSPC and its affiliate entities.
In addition, the firm 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 (LNG)-to-power project in Subic Bay.
The firm also reported ongoing developments to extend RCS’ operations beyond Luzon, in Cebu and Davao. The firm now employs over 2,500 people in the Philippines.
Looking ahead, DTI said I Squared Capital expressed interest in new opportunities in telecommunications towers, data centers, and hospitals. Roque pointed to healthcare, agri-technology, logistics, and energy and connectivity as priority sectors where further investment can support the country’s growth.
DTI said it will serve as a government focal point for investment facilitation and inter-agency coordination to support the firm’s expansion, and will continue to monitor the progress of its commitments.
READ: BOC setting up Large Importers Office to oversee trade facilitation programs
