ICTSI, a multinational ports empire, announced a multi-million dollar financing from AIIB to support its ports expansion initiatives across Manila, Batangas, and Mindanao. The financing will focus on technology-enabled infrastructure upgrades and the purchase of fully electric quay cranes.
International Container Terminal Services Inc. (ICTSI), the multi-port empire operated by Enrique Razon Jr. , has secured a multi-million dollar financing from China-backed AIIB , a multilateral lender.
The loan will support the ports company's expansion initiative across Manila, Batangas, and Mindanao, with $300 million allocated for technology-enabled infrastructure upgrades and the purchase of fully electric quay cranes. The initiative aims to increase capacity at MICT, MCT, and SLCT and reduce greenhouse gas emissions. AIIB's partnership supports ICTSI's sustainability and expansion goals. ICTSI's Enrique Razon Jr. welcomes the partnership, expressing their hope to strengthen their relationship and achieve more together
Container Terminal Services Inc. Enrique Razon Jr. Asia-Pacific AIIB Technology-Enabled Infrastructure Upgrades Investment Sustainability Initiatives Greenhouse Gas Emissions MICT SLCT MCT
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