Billionaire Enrique Razon Jr.’s International Container Terminal Services Inc. said it was modernizing its container facility in Misamis Oriental.
In a statement, it said the goal was to transform the Mindanao Container Terminal, formerly known as Mindanao International Container Terminal Services Inc., into a premier international gateway in the southern Philippine island.
The modernization project, which involved the installation of new reach stackers, terminal tractors and trailers, will be finished by the middle of 2020.
“Our ongoing modernization and changes in our current practices will propel us to become the leading port in Mindanao,” the company said.
“We aim to help spur economic growth in the countryside, especially now that Northern Mindanao, through the Misamis Oriental economic zone, is poised to become a prime investment hub in the region,” it added.
Mindanao Container Terminal said the upgrades were being made on expectations that demand would surge as businesses in the region expand.
Currently, MCT accepts both international and domestic shipments offering container handling services, yard management, reefer monitoring services and water bunkering.
The port terminal also plans to be a transshipment hub connecting Northern Mindanao to Visayas and other parts of the country.
“We continue to develop new products, distinct offerings and grow our transshipment business to help homegrown businesses in CDO (Cagayan de Oro) and Mindanao expand their reach. With the ongoing modernization, MCT is set to become the first port of call for international vessels in Mindanao,” the company said.