Subic Bay International Terminals and ICTSI Subic, 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 for the operation of New Container Terminals 1 and 2 in the Philippines.
Subic Bay International Terminals will invest more than $130 million in civil infrastructure and additional equipment including the replacement of the terminal’s four existing quay cranes and acquisition of one additional quay crane as well as the integration of more hybrid rubber-tired gantry (RTG) cranes.
These investments will increase the combined annual capacity of the two terminals from 600,000 TEUs to one million TEUs.
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.