BUSINESS

DTI fast-tracks I Squared’s $2-B investment

Mico Virata · Oct 18, 2026, 11:57 PM

PHILIPPINE Trade Secretary Cristina Roque (second from left) met with I Squared Capital’s Managing director Kunal Agarwal (second from right) and operating advisor Nishant D’Souza at Hilton Singapore Orchard, on the sidelines of President Ferdinand R. Marcos Jr.’s working visit to Singapore recently. — Photograph courtesy of DTI

The Department of Trade and Industry (DTI) is expediting government support for I Squared Capital’s $2-billion investment commitment in the Philippines, covering energy infrastructure, cold storage and logistics.

Trade Secretary Cristina Roque met with I Squared Capital managing director Kunal Agarwal and operating advisor Nishant D’Souza in Singapore recently to review the progress of the firm’s projects and facilitate approvals.

“I Squared Capital’s strategic investment directly addresses our core economic priorities — improving our energy security, modernizing cold chain logistics, and strengthening digital connectivity,” Roque said.

The commitment includes more than $1 billion already invested and an additional $1 billion planned over two to three years, following the firm’s discussions with President Ferdinand Marcos Jr. in October 2025.

I Squared Capital reported that its Philippine Coastal Storage and Pipeline Corp. is building new fuel storage facilities in Batangas and Davao.

The company also stores more than one million barrels of strategic fuel reserves for the Philippine National Oil Corp.

The firm has signed two memoranda of understanding with the Bases Conversion and Development Authority for a proposed Subic-Clark fuel pipeline and a potential liquefied natural gas-to-power project in Subic Bay.

Meanwhile, Royale Cold Storage is expanding beyond Luzon, with developments planned in Cebu and Davao.

The investment firm employs more than 2,500 people in the Philippines.

I Squared Capital also expressed interest in investing in telecommunications towers, data centers and hospitals. Roque identified healthcare, agricultural technology, logistics, energy and connectivity as priority sectors for further investments.

The DTI said it would coordinate with relevant agencies to address project requirements and facilitate approvals through the government’s Green Lanes initiative and CREATE MORE incentives.

“Our primary mandate at the DTI is to translate investor commitment into operational momentum,” Roque said, adding that the government would focus on investments that deliver tangible benefits to Filipinos.