Razon-led International Container Terminal Services, Inc. (ICTSI) has secured a 25-year extension of its concession to operate the Manila International Container Terminal (MICT), extending its management until May 2063, the company disclosed in a regulatory filing. The announcement was reported by BusinessWorld.
The agreement, signed on Thursday, builds on ICTSI's long-standing role as operator of the country's largest container terminal. The extension ensures continuity for port operations that handle a significant share of Philippine international trade.
ICTSI, led by port magnate Enrique Razon, has invested heavily in modernizing MICT, including expanding capacity and adopting digital systems. The extended concession provides long-term stability for shipping lines and logistics firms reliant on Manila's primary gateway.