INTERNATIONAL Container Terminal Services Inc. (ICTSI) has signed a 25-year concession contract renewal with the Philippine Ports Authority (PPA) for the Manila International Container Terminal (MICT).
The agreement extends the operational term from its previous expiration date of May 2038 to May 2063. This early renewal provides long-term operational continuity for the port 12 years before the previous lease was scheduled to end.
The long-term contract allows ICTSI to plan future infrastructure investments and terminal upgrades. The extension gives the operator a total remaining concession term of approximately 37 years. ICTSI stated that the renewal will support the growth of Philippine trade and domestic economic development.
The contract renewal supports the terminal’s current capacity expansion, which includes the construction of the Berth 8 project. The Berth 8 expansion features a 300-meter wharf and a 10-hectare container yard. Once MICT completes these infrastructure upgrades, the total annual handling capacity will increase to 3.5 million twenty-foot equivalent units (TEUs).
MICT handles approximately 70 percent of all container traffic at the Port of Manila. The facility operates as the largest container terminal in the Philippines and serves as the primary entry and exit point for international cargo. MICT Chief Executive Officer Christian Lozano stated that the terminal focuses on delivering consistent service to ensure reliable cargo movement as trade volumes grow.
MICT is the flagship asset of ICTSI and supports the company’s broader business operations. ICTSI currently operates 33 port terminals across 20 countries. Securing the domestic terminal contract allows the company to maintain its main revenue source while managing its international port portfolio.
