ICTSI locks in Subic Bay terminals extension with $130m upgrade plan

Manila-headquartered International Container Terminal Services Inc (ICTSI) has secured a 25-year extension for its concession agreements to operate Subic Bay’s two container terminals, NCT-1 and NCT-2. The deal, signed with the Subic Bay Metropolitan Authority (SBMA), allows ICTSI’s subsidiaries, Subic Bay International Terminals Corp (SBICT) and ICTSI Subic Inc (ISI), to continue running the facilities …