The following release was published by ICTSI:
Subic Bay International Terminals Corp. (SBICT) and ICTSI Subic Inc. (ISI), subsidiaries of International Container Terminal Services, Inc. (ICTSI), have secured a 25-year extension of their respective concession agreements with the Subic Bay Metropolitan Authority (SBMA) for the continued operation and management of New Container Terminals 1 and 2 (NCT-1 and NCT-2).
The extensions, which run until 2058, were signed by Christian R. Gonzalez, ICTSI executive vice president, and Eduardo Jose L. Aliño, SBMA chairman and administrator, on October 3 at ACEA Subic Beach Resort. The signing was witnessed by Juan Miguel Delgado, Subic Bay International Terminals vice chairman, and Honorio Allado III, SBMA director and ports committee chairman.
SBITC will invest more than USD130 million in civil infrastructure and additional equipment as part of its investment and development plan under the extended concession. These will include the replacement of the terminal’s four existing quay cranes and acquisition of one additional quay crane, increasing the total to five, as well as the integration of more hybrid rubber-tired gantry (RTG) cranes. These investments will further enhance terminal capabilities, boost operational efficiency, and increase 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. 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,” said Mr. Gonzalez.
“Extending our partnership with SBMA reaffirms ICTSI’s long-term 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 added.
Strategically located within the Subic Bay Freeport Zone, Subic Bay International Terminals provides direct access to major intra-Asia shipping routes and national highways, offering seamless connectivity to both domestic and global markets. The terminals serve a broad range of industries and businesses operating within the Subic and Clark freeports, nearby economic zones, and the surrounding provinces of Pampanga, Bataan, Tarlac, and La Union.
With its location along key maritime lanes and direct links to world-class superhighways, Subic Bay International Terminals is positioned to continue playing a critical role in strengthening the Philippines’ supply chain infrastructure and facilitating trade growth in the region.
Source: ICTSI