Global infrastructure investor I Squared Capital is advancing a USD2-billion investment program in the Philippines, targeting fuel storage, pipeline development and cold chain logistics as the country seeks to strengthen energy security and improve supply chain resilience.
The projects span critical infrastructure, from fuel reserves and a proposed Subic–Clark pipeline to expanded cold storage facilities in key regional markets. Their implementation could help address logistical bottlenecks and support industries dependent on reliable energy and efficient food distribution, although delivery will hinge on regulatory approvals and project execution.
Trade Secretary Cristina Roque met with I Squared Capital Managing Director Kunal Agarwal and Operating Advisor Nishant D’Souza in Singapore on October 10 to review progress and discuss government support for the investment pipeline.
Among the projects are fuel storage facilities in Batangas and Davao being developed by Philippine Coastal Storage and Pipeline Corp. The company also maintains more than one million barrels of strategic fuel reserves for the Philippine National Oil Co., reinforcing its role in the country’s petroleum supply infrastructure.
I Squared Capital has signed two memoranda of understanding with the Bases Conversion and Development Authority covering a proposed fuel pipeline linking Subic and Clark and a potential liquefied natural gas-to-power project in Subic Bay. Both initiatives remain subject to further development and implementation.
The investor is also expanding Royale Cold Storage beyond Luzon into Cebu and Davao, extending temperature-controlled logistics infrastructure that supports agricultural supply chains and food distribution.
The current investment program follows an earlier commitment to deploy an additional $1 billion over two to three years, on top of more than $1 billion already invested in the Philippines. Its local operations employ more than 2,500 workers.
I Squared Capital is also exploring opportunities in telecommunications towers, data centers and hospitals, signaling potential expansion into other infrastructure segments.
Roque said the Department of Trade and Industry would coordinate with relevant agencies to expedite qualified projects through Green Lane facilitation and incentives under the CREATE MORE Act.
The priority now is converting investment commitments into operating assets, with timelines, approvals and execution determining how quickly the projects deliver economic benefits.
