Manila: Port operator International Container Terminal Services Inc. (ICTSI) has taken over Mindanao Container Terminal (MCT) and opened it for commercial operations ahead of schedule.
The company disclosed to the stock exchange that the Phividec Industrial Authority had turned over MCT to the ICTSI wholly owned subsidiary, Mindanao International Container Terminal Services Inc.
ICTSI's subsidiary will operate the terminal under a 25-year concession. The Mindanao terminal is in Phividec Industrial Estate in Tagaloan, Misamis Oriental, about 20 kilometers from Cagayan de Oro City.
The terminal can accommodate an annual throughput of 270,000 TEUs. [27/6/08]
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