INTERNATIONAL Container Terminal Services Inc. (ICTSI) said it has been granted another 25 years to operate its Tagoloan, Misamis Oriental operation, Mindanao Container Terminal (MCT), by the PHIVIDEC Industrial Authority (PIA).
ICTSI’s existing contract for the terminal is in effect until 2032, the company said in a statement on December 20.
ICTSI said as part of the contract extension, MCT operating unit Mindanao International Container Terminal Services Inc. (MICTSI) plans to invest more than $100 million to extend the berth by an additional 300 meters, build other support infrastructure, and purchase additional equipment to significantly increase capacity from its present 350,000 twenty-equivalent units (TEUs).
“The new berth will enable the shipping industry to deploy larger ships on new service routes to support growth and demand from Mindanao’s importers and exporters… The expansion project will further promote PHIVIDEC’s agenda to grow its locator base,” ICTSI added.
MCT is located in PHIVIDEC Industrial Estate in Tagoloan, Misamis Oriental.
