Finance

Project Crane finances works at MICT, MCT and South Luzon Container Terminal

Published 7 July 2026 Updated 16 July 2026 Publisher IMWO Region Asia Pacific Confidence Confirmed
ICTSI official artist's perspective of the planned South Luzon Container Terminal quay and container yard

ICTSI; official artist's perspective, not a construction-progress photograph

Project Crane is a corporate finance layer over three different delivery programmes: MICT's Berth 8 and future electric ship-to-shore cranes, MCT's additional 300 metres of wharf and localized dredging, and Bauan/SLCT's quay, dredging, backfilling, yard, equipment, and resettlement works.

AIIB approved one corporate loan across three terminal programmes

AIIB approved the USD 300 million nonsovereign corporate loan on 25 March 2026 after concept review in July 2025 and final review in November 2025. Its result framework separates BIPI, MICP/MCT, and MICT. ICTSI's annual filing places the start of MICT Berth 8 in Q4 2022, while July 2024 crane commissioning and 2025 hybrid RTG deliveries predate AIIB approval and cannot be treated as proven loan-funded assets. MCT's December 2024 concession extension came with more than USD 100 million of planned investment and a 300-metre berth extension; ICTSI's 2025 annual report says the expansion began during the year, and the MICP ESIA schedules civil works for December 2025-March 2027 and localized dredging for June-August 2026. The BIPI ESIA records August 2024 ECC transfer, October 2024 approval for 9,900 square metres of backfilling, a November 2025 dumping permit, planned February 2026 dredging permit, dredging through August 2027, civil works from October 2026 to August 2027, and commercial operation from January 2028. ICTSI's January 2026 release describes a 425-metre Phase 1 quay and May-to-September 2027 construction, while its March launch describes a 400-metre quay, a September 2025 start, and September 2027 completion. Both versions remain in the record because no primary source reconciles the scope or dates.

Each terminal has a separate marine scope, contractor record and schedule

AIIB's result framework separates MICT, MCT and Bauan International Port. MICT Berth 8 construction began in Q4 2022, before the March 2026 loan approval. MCT's 300-metre berth extension entered construction during 2025 and its environmental schedule places localized dredging in June-August 2026. Bauan and South Luzon Container Terminal have separate permits, controlled dredging, piling, backfill, quay, equipment and resettlement records.

Evidence conclusion

South Luzon disclosures conflict on quay length and construction dates

MICT still lacks published electric-crane awards and Berth 8 acceptance. MCT has a 300-metre wharf extension, localized dredging and handover records outstanding. Bauan and South Luzon combine controlled dredging, piling, 9,900 square metres of backfill, quay construction and equipment before the stated 2028 operating target. ICTSI's January 2026 release describes a 425-metre Phase 1 quay and May-September 2027 construction, while its March release describes a 400-metre quay, September 2025 start and September 2027 completion. A revised owner programme reconciling the quay length and dates is not published.

Outstanding evidence

  • AIIB effectiveness, disbursement, and terminal-by-terminal capex allocation
  • MICT Berth 8 Phase 1 and 2 acceptance and electric ship-to-shore crane procurement
  • MCT's 300-metre Phase II and III-A wharf, June-August 2026 dredging window, and contractor
  • Updated Bauan/SLCT baseline resolving the 400-versus-425-metre and 2025-versus-2027 programme conflict
  • BIPI dredging and dumping permits, backfill, resettlement, ESMP, quay, and equipment acceptance
  • Capacity, berth productivity, emissions, and commercial operation by terminal

Related records 1

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