ICTSI to invest $330m into Manila and Subic Bay

Philippines-based terminal operator, International Container Terminal Services Inc. (ICTSI), announced it will spend US$330m to expand and enhance its facilities in Manila and Subic Bay.

The funds will go to Manila International Container Terminal (MICT) and the new Container Terminals 1 and 2 at Subic Bay in Zambales, Philippines, where the company wants to increase capacity and attract more shipping lines.

Spending will be frontloaded next year, partly in response to the recent congestion in Manila, although the deployment of some equipment may take up to three years – two ship-to-shore cranes will arrive in three years.