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International Container Terminal Services, Inc. secured a US$300 million loan from the Asian Infrastructure Investment Bank to support upgrade and expansion plans for three terminals in the Philippines
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The senior unsecured corporate loan was signed on May 20
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The fund will support technology-enabled infrastructure upgrades at the Manila International Container Terminal, the South Luzon Container Terminal currently under development in Batangas, and the Mindanao Container Terminal
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ICTSI said the investments are expected to increase annual container throughput capacity of the three terminals and will also support the purchase of fully electric quay cranes, and replacement of diesel-powered yard equipment
International Container Terminal Services, Inc. (ICTSI) secured a US$300 million loan from the Asian Infrastructure Investment Bank (AIIB) to support upgrade and expansion plans for three terminals in the Philippines.
The senior unsecured corporate loan – AIIB’s first non-sovereign-backed transaction in the Philippines – was signed on May 20 during a ceremony attended by ICTSI chairman and president Enrique Razon Jr. and AIIB president Zou Jiayi.
According to the website of AIIB, a multilateral development bank headquartered in Beijing, the loan approved on March 25, 2026 will support ICTSI’s “Project Crane.”
ICTSI in a statement said the loan will support technology-enabled infrastructure upgrades at the Manila International Container Terminal (MICT), the South Luzon Container Terminal (SLCT) currently under development in Batangas, and the Mindanao Container Terminal (MCT).
READ: ICTSI firm secures 25-year extension to operate Mindanao Container Terminal
Together, ICTSI said the investments are expected to increase annual container throughput capacity, improve berth productivity and contribute to the Philippines’ economic growth. The financing will also support the purchase of fully electric quay cranes, and replacement of diesel-powered yard equipment, which will reduce greenhouse gas emissions from terminal operations.
READ: MICT handles highest annual container volume at 3M TEUs
The project will increase MICT’s capacity to 3.7 million twenty-foot equivalent units (TEUs) by 2027, MCT’s capacity to around 1 million TEUs by 2028, and SLCT’s capacity to 800,000 TEUs by 2028.
READ: ICTSI sets South Luzon Container Terminal construction in motion
“ICTSI represents exactly the type of partnership AIIB aims to build as the Bank enters its second decade,” Zou said.
“This transaction demonstrates how AIIB can support infrastructure development by deploying innovative financing instruments and working closely with global operators who have the scale and execution capacity to deliver impact for the people we serve. We look forward to deepening this strategic relationship,” she added.
Razon, for his part, said: “ICTSI welcomes this promising partnership with the AIIB, which supports our expansion and sustainability initiatives. 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.”
