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Mindanao International Container Terminal Services, Inc’s contract to operate and manage Mindanao Container Terminal has been extended by another 25 years
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PHIVIDEC Industrial Authority extended the concession term from 2033 to 2058
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MICTSI plans to invest more than $100 million to extend the berth from the current 300 meters to 600 meters, build other support infrastructure, and purchase additional equipment
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The expansion is set to be completed by 2029
Mindanao International Container Terminal Services, Inc. (MICTSI) has secured a 25-year extension to operate and manage Mindanao Container Terminal (MCT).
MICTSI parent firm International Container Terminal Services, Inc (ICTSI) in a statement said the concession term was extended from 2033 to 2058 by PHIVIDEC Industrial Authority (PIA). MICTSI won the 25-year concession to operate and manage MCT in 2008. MCT is located at the PHIVIDEC Industrial Estate in Tagaloan, Misamis Oriental. PHIVIDEC is overseen by PIA.
ICTSI said MICTSI plans to invest more than $100 million to extend the berth from the current 300 meters to 600 meters, build other support infrastructure, and purchase additional equipment to increase capacity from its present 350,000 twenty-foot equivalent units.
In a separate statement, PIA said it has signed with MICTSI on December 19 an Amendment and Supplement to the Contract for the Management and Operation of the MCT for the Phase 2 expansion of the terminal.
PIA said the expansion project, for completion in 2029, will address the need to expand the terminal’s container volume handling capacity or utilization rate, which has reached maximum capacity since 2020.
ICTSI said 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 will further promote PIA’s agenda to grow its locator base.
“ICTSI is proud to continue our work at Mindanao Container Terminal, a critical hub for trade in southern Philippines,” MICTSI president and general manager Aurelio Garcia said.
“This extension allows us to implement our vision for the terminal’s future, with significant investments in new technology and infrastructure to meet the evolving needs of our customers and the region,” Garcia added.
PIA administrator and chief executive officer Atty. Joseph Donato Bernedo, for his part, said the project reflects a commitment “to growth and sustainability”. He added PIA “will continue to grow with our other projects and initiatives that are lined up to benefit not only Northern Mindanao but also the entire country.”
READ: Phividec pushes Mindanao Container Terminal berth expansion