A SUBSIDIARY of the Philippines' International Container Terminal Services Inc (ICTSI), Mindanao International Container Terminal Services Inc (MICTSI), has secured a 25-year extension to operate and manage the Mindanao Container Terminal (MCT).
The extension, awarded by the PHIVIDEC Industrial Authority, allows MICTSI to continue managing the MCT until 2058, according to London's Port Technology International.
Located within the PHIVIDEC Industrial Estate in Tagoloan, Misamis Oriental, the MCT serves as a key gateway for trade in the southern Philippines.
To enhance the terminal's capacity and efficiency, MICTSI plans to invest more than US$100 million in infrastructure upgrades. The investment includes a 300-metre berth extension and the acquisition of new equipment to handle the expected growth in cargo volumes.
These enhancements are projected to significantly boost the terminal's annual capacity from its present 350,000 TEU. 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.
Additionally, the expansion project will further promote PHIVIDEC's agenda to grow its locator base.
"ICTSI is proud to continue our work at Mindanao Container Terminal, a critical hub for trade in southern Philippines," said Aurelio C Garcia, MICTSI president and general manager.
"This extension allows us to implement our vision for the terminal's future, with significant investments in new technology and infrastructure to meet the evolving needs of our customers and the region."
https://www.shippingazette.com/news?news_id=9250100000204
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