International Container Terminal Services (ICTSI) based in the Philippines has announced a significant investment of $580 million in capital expenditures for 2025. This decision comes after the company reported its most profitable year ever in 2024, with earnings reaching $850 million. ICTSI stated that their strong balance sheet allows them the financial strength and flexibility to pursue new opportunities and invest in existing projects.
One of the major projects planned for this round of financing is the construction of the Luzon International Container Terminal (LICT) in Bauan, Batangas, Philippines. The $800 million terminal is set to become the largest privately funded maritime terminal investment in the country and is expected to be completed by 2028. Additionally, ICTSI is also focusing on expanding its Matadi Gateway Terminal (MGT) in the Democratic Republic of Congo (DRC) with various projects aimed at enhancing operational efficiency and customer service.
ICTSI is also targeting upgrades at other terminals, including the completion of Phase 3 expansion at Mexico’s Contecon Manzanillo terminal and equipment upgrades at Rio Brasil Terminal in Brazil. However, the company is currently involved in a legal battle with Maersk in South Africa over the operation of the Durban Container Terminal Pier 2 (DCT2). The case, which is in the KwaZulu-Natal High Court, involves Maersk’s subsidiary APM Terminals challenging Transnet’s decision to award ICTSI the concession for DCT2 due to alleged irregularities in the tender process.
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