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Subic Bay International Terminals Corp. and ICTSI Subic Inc., both subsidiaries of International Container Terminal Services Inc., have been granted an extension of their respective concessions at the Port of Subic until 2058
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ICTSI, in a disclosure to the Philippine Stock Exchange, said the two units are set to invest more than $130 million into their operations
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It will cover civil infrastructure and additional equipment to enhance terminal capabilities and operational efficiency, and increase their combined annual capacity to 1 million TEUs
Two subsidiaries of International Container Terminal Services Inc. (ICTSI), Subic Bay International Terminals Corp. (SBITC) and ICTSI Subic Inc. (ISI), have both been granted an extension of their respective concessions, allowing them continued operations until 2058.
The authorization was granted by the Subic Bay Metropolitan Authority (SBMA), ICTSI announced in an October 6 disclosure to the Philippine Stock Exchange.
SBITC and ISI, collectively known as Subic Bay International Terminals, manages and operates the New Container Terminals 1 and 2 (NCT-1 and NCT-2) at the Port of Subic within the Subic Bay Freeport Zone in Zambales.
ICTSI said Subic Bay International Terminals is set to invest more than $130 million into its operations as part of its Investment and Development Plan.
It will cover civil infrastructure and additional equipment to enhance terminal capabilities and operational efficiency, and increase its combined annual capacity from 600,000 twenty-foot equivalent unit (TEUs) to 1 million TEUs.
READ: SBITC future proofs Subic port with more equipment, technologies
SBMA first awarded the NCT 1 terminal concession to SBITC in 2007, then NCT 2 to ISI in 2011.
The Subic Bay International Terminals is a key gateway for trade in northern and central Luzon, providing direct access to major shipping routes and national highways. The terminals support businesses operating in the Subic and Clark Freeport Zones, other nearby economic zones, and surrounding provinces including Pampanga, Bataan, Tarlac, and La Union.
READ: ICTSI is top PH firm for intangible assets in 2025 Global Innovation Index
