AIIB lends ICTSI USD 300 million for ports

The Asian Infrastructure Investment Bank will lend International Container Terminal Services Inc. USD 300 million to expand and upgrade three container terminals in the Philippines, a deal aimed at improving port connectivity and supporting lower-emission terminal operations.

AIIB said the senior unsecured corporate loan is its first non-sovereign-backed transaction in the Philippines, marking a private-sector financing milestone for the multilateral development bank.

The loan agreement was signed during a ceremony attended by Enrique K. Razon Jr., ICTSI chairman and president, and Zou Jiayi, AIIB president, as part of Zou’s first visit to the Philippines.

The financing will support technology-enabled infrastructure upgrades at the Manila International Container Terminal, the South Luzon Container Terminal now under development in Batangas, and the Mindanao Container Terminal.

AIIB said the investments are expected to increase annual container throughput capacity, improve berth productivity and contribute to the Philippines’ economic growth.

The loan will also support the purchase of fully electric quay cranes and the replacement of diesel-powered yard equipment, which AIIB said will reduce greenhouse gas emissions from terminal operations.

The project will raise MICT’s capacity to 3.7 million twenty-foot equivalent units by 2027.

It will also increase MCT’s capacity to around 1 million TEUs by 2028.

SLCT’s capacity is projected to reach 800,000 TEUs by 2028.

“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.”

Razon said the loan supports ICTSI’s expansion and sustainability plans.

“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.”

AIIB described ICTSI as a leading global port operator with 33 terminals in 19 economies.

ICTSI earlier said SLCT in Bauan, Batangas, is being developed as a major container hub for Calabarzon, with commercial operations targeted for 2028.

The port upgrades come as the Philippines continues to rely on maritime transport and container terminals to move goods across its island economy, making port capacity and efficiency critical to trade, logistics and regional growth.