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Singapore's PSA in JV to operate Lianyungang container terminal
A SUBSIDIARY of PSA International (PSA) has agreed to acquire stakes in a new container terminal company in Lianyungang Port in Jiangsu province, China, marking the group's first major foray in the Yangtze River Delta.
PSA has formed a joint venture with Lianyungang Port Group to take over the container terminal project from China Shipping Container Lines, following its sale of the facility pending regulatory approval.
The new container terminal has an annual handling capacity of 2.8 million TEU and is expected to commence operations in 2014. It will be able to service the world's largest, featuring a 1,700-metre long quay, super-postpanamax quay cranes with a 23-row outreach and 16.5 metres depth alongside.
The terminal expects to reap much of the container movement from hinterland provinces of Shandong and Jiangsu. Lianyungang Port handles the highest intermodal container volume by sea and rail in China, servicing the hinterland of central and western China, and connects the region to ports in Europe, the Americas and the rest of Asia.
Said PSA chairman Tan Chong Meng: "Lianyungang's strategic location, established transport infrastructure and extensive hinterland offer tremendous potential for this joint venture to ride the waves of continuous growth in the Yangtze River Delta region.
"PSA is committed to building and strengthening this partnership with the Lianyungang Port Group and contributing to the transformation of Lianyungang into a world-class port of call," he said.
PSA has formed a joint venture with Lianyungang Port Group to take over the container terminal project from China Shipping Container Lines, following its sale of the facility pending regulatory approval.
The new container terminal has an annual handling capacity of 2.8 million TEU and is expected to commence operations in 2014. It will be able to service the world's largest, featuring a 1,700-metre long quay, super-postpanamax quay cranes with a 23-row outreach and 16.5 metres depth alongside.
The terminal expects to reap much of the container movement from hinterland provinces of Shandong and Jiangsu. Lianyungang Port handles the highest intermodal container volume by sea and rail in China, servicing the hinterland of central and western China, and connects the region to ports in Europe, the Americas and the rest of Asia.
Said PSA chairman Tan Chong Meng: "Lianyungang's strategic location, established transport infrastructure and extensive hinterland offer tremendous potential for this joint venture to ride the waves of continuous growth in the Yangtze River Delta region.
"PSA is committed to building and strengthening this partnership with the Lianyungang Port Group and contributing to the transformation of Lianyungang into a world-class port of call," he said.
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