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 the New Container Terminals 1 and 2 (NCT-1 and NCT-2).
The extensions, valid until 2058, were signed by Christian R. Gonzalez, executive vice president of Ictsi, and Eduardo Jose L. Aliño, chairman and administrator of SBMA, on October 3 at ACEA Subic Beach Resort. The signing was witnessed by Juan Miguel Delgado, vice president of Subic Bay International Terminals, and Honorio Allado III, director of SBMA and chairman of the ports committee.
SBITC will invest over USD 130 million in civil infrastructure and additional equipment as part of its investment and development plan under the extended concession. This will include replacing the terminal’s four existing quay cranes and acquiring one additional quay crane, bringing the total to five, as well as integrating more hybrid Rubber-Tired Gantries (RTG). These investments will further enhance the terminal’s capabilities, boost operational efficiency, and increase the combined annual capacity of NCT-1 and NCT-2 from 600,000 twenty-foot equivalent units (TEU) to one million TEU.
“We are extremely grateful to SBMA for trusting us and treating us as the ideal partner to continue until 2058. In the more than 30 terminals we operate worldwide, no matter how difficult the location, no matter how challenging it is, the only thing that represents trust in ICTSI and the partnership with local authorities, the government, and regulators, is to see your contract extended,” said Gonzalez.
“Extending our partnership with SBMA reaffirms ICTSI’s long-term commitment to supporting 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 in the future,” added the executive.
Located within the Subic Bay Freeport Zone, Subic Bay International Terminals provides direct access to major intra-Asian shipping routes and national highways, offering seamless connectivity to domestic and international markets. The terminals serve a wide range of industries and businesses operating in the Subic and Clark freeports, nearby economic zones, and the surrounding provinces of Pampanga, Bataan, Tarlac, and La Unión.
