ICTSI Announces Major Terminal Upgrades Worldwide

Philippine-based International Container Terminal Services (ICTSI) has revealed plans for significant upgrades at key terminals globally following a record-breaking year in 2024. With earnings reaching $850 million, ICTSI is set to invest $580 million in capital expenditures for 2025.

According to a statement released by ICTSI, the company’s robust balance sheet provides the financial strength and flexibility to pursue new opportunities and enhance existing projects.

Expansion Projects

One of the notable projects in the pipeline is the construction of the Luzon International Container Terminal (LICT) in Bauan, Batangas, Philippines. With an investment of $800 million, the terminal is expected to be the largest privately funded maritime terminal in the Philippines upon completion in 2028.

ICTSI is also focusing on enhancing its Matadi Gateway Terminal (MGT) in the Democratic Republic of Congo (DRC). The company has initiated various projects at the terminal aimed at improving operational efficiency and customer service, including the construction of a 2.65-kilometer road linking the Port of Matadi to the national highway network.

Additionally, ICTSI is nearing the completion of the Phase 3 expansion of Mexico’s Contecon Manzanillo terminal and is gearing up for equipment upgrades at the Rio Brasil Terminal in Brazil.

Legal Battle with Maersk

ICTSI is currently embroiled in a legal dispute with Maersk in South Africa over the operation of the Durban Container Terminal Pier 2 (DCT2). The case, which is being heard in the KwaZulu-Natal High Court, revolves around Transnet’s decision to award ICTSI the concession for DCT2, with Maersk challenging the process citing irregularities.

While the court case is nearing its conclusion, DCT2 has been left without an operator for over a year. The concession forms part of Transnet’s privatization initiative aimed at addressing port inefficiencies in Durban and other major ports in South Africa.

With a strong financial position and a commitment to enhancing its global terminal network, ICTSI is poised for continued growth and success in the maritime industry.