The Asian Infrastructure Investment Bank (AIIB) will lend USD300 million to International Container Terminal Services Inc. (ICTSI) to support the expansion and upgrade of three container terminals across the Philippines.
The senior unsecured corporate loan – AIIB’s first non-sovereign-backed transaction in the Philippines – was signed during a ceremony attended by ICTSI President and Chairman Enrique K Razon and AIIB President Zou Jiayi as part of her first visit to the Philippines.
The loan will support technology-enabled infrastructure upgrades at the Manila International Container Terminal (MICT), the South Luzon Container Terminal (SLCT) currently under development in Batangas, and the Mindanao Container Terminal (MCT).
Together, the investments are expected to increase annual container throughput capacity, improve berth productivity and contribute to the Philippines’ economic growth. The financing will also support the purchase of fully electric quay cranes, and replacement of diesel-powered yard equipment which will reduce greenhouse gas emissions from terminal operations.
The project will increase MICT’s capacity to 3.7 million TEU by 2027, MCT’s capacity to around 1 million TEU by 2028 and SLCT’s capacity to 800,000 TEU 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.”
Enrique K Razon Jr, ICTSI chair and president, said: “ICTSI welcomes this promising partnership with the AIIB, which supports our expansion and sustainability initiatives. We value the 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.”
About AIIB
The Asian Infrastructure Investment Bank is a multilateral development bank dedicated to financing "Infrastructure for Tomorrow," with sustainability at its core. AIIB began operations in 2016, now has 111 approved members worldwide, is capitalized at USD 100 billion, and is AAA-rated by major international credit rating agencies. AIIB collaborates with partners to mobilize capital and invest in infrastructure and other productive sectors that foster sustainable economic development and enhance regional connectivity.
About International Container Terminal Services, Inc.
International Container Terminal Services, Inc. (ICTSI) is an independent global terminal operator with operations across the Asia-Pacific, the Americas, Europe, Middle East and Africa and is ranked among the world’s largest terminal operators. Established in the Philippines in 1987, the company collaborates with governments to modernize port infrastructure and enhance operational performance, unlocking long-term value from public maritime assets while delivering measurable economic and social benefits to partner communities. ICTSI focuses on origin and destination terminals and applies consistent environmental, safety and governance standards across its portfolio of 33 terminals in 19 economies across six continents. It is listed on the Philippine Stock Exchange (PSE: ICT).
