RAZON-LED International Container Terminal Services Inc. (ICTSI) is in search of a $300-million (around P17.7-billion) loan from the Asian Infrastructure Investment Bank (AIIB), a multilateral development bank, to fund the expansion and upgrade of its Philippine port terminals.
In response to a document uploaded by AIIB on Jan. 22, the proposed financing is a “non-sovereign-backed financing of as much as $300-million senior unsecured corporate loan” to ICTSI.
The document said the loan “will support capital expenditure (capex) plan for ICTSI terminals positioned within the Philippines.”
The project is currently “under preparation,” with AIIB estimating financing approval by March 23, 2026.
The AIIB document outlined the expected outcomes of the project, including increased annual container throughput at Bauan International Port (BIPI) and Mindanao International Container Port (MICP), improved berth productivity at each terminals, and reductions in greenhouse gas (GHG) emissions.
The project also goals to expand container handling capability across BIPI, MICP, and Manila International Container Terminal (MICT), introduce electric ship-to-shore cranes at MICT, and promote gender diversity by increasing the proportion of ladies amongst newly hired port staff at BIPI and MICP.
The document also noted that ICTSI “has existing Global Environmental, Social, and Governance (ESG) Policy to administer E&S risks and impacts of its operations in all terminals and subsidiaries across the jurisdictions during which it operates,” and that site-specific environmental and social assessments have been prepared for its capex facilities.
ICTSI operates 34 terminals across 20 economies and is one among the country’s leading port operators. The corporate can also be constructing the $800-million South Luzon Container Terminal in Bauan, Batangas, which is projected to start business operations by 2028.
For the primary nine months of 2025, ICTSI posted an attributable net income of $751.56 million, up 18.8% from $632.58 million a yr earlier, driven by higher cargo volumes and improved port revenues.
The corporate attributed the expansion to tariff adjustments, increased volumes with a positive container mix, and better ancillary revenues from chosen terminals.
On Friday, shares of ICTSI fell P7, or 1.11%, to shut at P623. — A.R.A. Inosante