Mindanao International Container Terminal Services Inc. (MICTSI), a subsidiary of International Container Terminal Services Inc. (ICTSI), has obtained a 25-year extension to operate and manage the Mindanao Container Terminal (MCT). The extension, granted by the PHIVIDEC Industrial Authority, allows MICTSI to continue managing the MCT until 2058.
Located in the PHIVIDEC Industrial Estate of Tagoloan, Misamis Oriental, the MCT is a key gateway for trade in the southern Philippines.
To improve the terminal’s capacity and efficiency, MICTSI plans to invest more than $100 million in infrastructure improvements. The investment includes the expansion of the dock by 300 meters and the acquisition of new equipment to cope with the expected growth in cargo volume. These improvements are expected to significantly increase the terminal’s annual capacity, which currently stands at 350,000 twenty-foot equivalent units (TEU).
The new berth will allow the shipping industry to deploy larger vessels on new service routes to support the growth and demand of Mindanao importers and exporters. Additionally, the expansion project will further promote PHIVIDEC’s agenda to grow its locator base.
ICTSI’s investment will substantially reduce the environmental impact of maritime transport
“ICTSI is proud to continue our work at the Mindanao Container Terminal, a critical hub for trade in the southern Philippines,” said Aurelio C. Garcia, President and CEO of MICTSI.
“This expansion allows us to implement our vision for the future of the terminal, with significant investments in new technologies and infrastructure to meet the changing needs of our customers and the region.”
To improve the capacity and efficiency of the terminal, MICTSI plans to invest more than 100 million dollars in infrastructure improvements
The administrator and CEO of PHIVIDEC, Atty. Joseph Donato J. Bernedo, stated: “Today’s signing ceremony reflects our commitment to the growth and sustainability of PHIVIDEC-IA under this administration, and we will continue to grow with our other projects and initiatives that are aligning to benefit not only the northern Mindanao, but also to the entire country. I would like to thank Mr. Aurelio C. García, President and CEO of MICTSI, President of PHIVIDEC-IA, Engr. Augustus N. Adis, and our Council members for their support in making our dream of expanding the MCT port a reality.”
The expansion highlights the strong collaboration between ICTSI and PHIVIDEC-IA in developing critical infrastructure to facilitate trade and drive economic growth in Mindanao.
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