ICTSI extends Subic terminal concessions for 25 years

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International Container Terminal Services, Inc. (ICTSI) has secured a 25-year extension for the operation and management of its Subic Bay terminals, strengthening its long-term commitment to trade and economic growth in Northern and Central Luzon.

The extensions cover Subic Bay International Terminals Corp. (SBICT) and ICTSI Subic Inc. (ISI), which manage New Container Terminals 1 and 2 (NCT-1 and NCT-2) under concession agreements with the Subic Bay Metropolitan Authority (SBMA).

The renewed contracts, valid until 2058, were signed on October 3 at ACEA Subic Beach Resort by ICTSI Executive Vice President Christian R. Gonzalez and SBMA Chairman and Administrator Eduardo Jose L. Aliño.

The signing was witnessed by Subic Bay International Terminals Vice Chairman Juan Miguel Delgado and SBMA Director and Ports Committee Chairman Honorio Allado III.

As part of the extended concession, SBITC will invest more than USD 130 million in infrastructure upgrades and new equipment to enhance efficiency and expand capacity.

The investment plan includes replacing the terminal’s four existing quay cranes and acquiring one additional crane, bringing the total to five, alongside the integration of more hybrid rubber-tired gantry cranes.

Once completed, these improvements are expected to boost the combined annual capacity of NCT-1 and NCT-2 from 600,000 twenty-foot equivalent units (TEUs) to one million TEUs.

“We are extremely thankful and grateful to SBMA for trusting us and treating us as the right partner to continue until 2058,” said Mr. Gonzalez.

“Across all the 30-plus terminals we operate around the world, no matter how difficult the place, no matter how challenging, the one thing that represents the trust in ICTSI and the partnership with the local authorities—the government and the regulators—is seeing your contract extended,” he added.

Mr. Gonzalez said the extended partnership reaffirms ICTSI’s commitment to “support trade growth and economic development in Northern and Central Luzon.”

“Our investments will further strengthen Subic Bay International Terminals’ position as a vital gateway, ensuring it remains a competitive and efficient logistics hub well into the future,” he said.

Strategically located within the Subic Bay Freeport Zone, Subic Bay International Terminals provides direct access to major intra-Asia shipping routes and national highways.

The terminals serve a wide range of industries and enterprises operating within the Subic and Clark Freeports, nearby economic zones, and surrounding provinces such as Pampanga, Bataan, Tarlac, and La Union.

With its strategic location along key maritime lanes and direct connections to major transport corridors, Subic Bay International Terminals is expected to remain a critical logistics hub supporting the Philippines’ growing trade network.

Headquartered in Manila and founded in 1988, ICTSI operates port facilities in Asia-Pacific, the Americas, and Europe, the Middle East, and Africa, focusing on transparent partnerships with governments and stakeholders in both developed and emerging markets.

The company continues to earn recognition for its public-private partnership model, which emphasizes sustainable development and community-focused corporate social responsibility initiatives.