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APMT to form JV with Qingdao Port Group for new APM Terminals Vado in Italy
APM Terminals has brought in experts from China's Qingdao Port Group to form a joint venture for the new APM Terminals Vado port project in northern Italy which will handle both containerised and liquid bulk cargoes when it opens in January 2018.
APM Terminals executives met with leaders from the port group in The Hague in the Netherlands to sign a memorandum of understanding (MOU), reported portstrategy.com.
APM Terminals is investing EUR150 million (US$161.18 million) in the new terminal, while the Italian government is providing EUR300 million for civil works for the port project, which is expected to create 450 new jobs when it begins operations.
APM Terminals Vado will be integrated operationally with the existing Vado Reefer Terminal facility that has an annual handling capacity of 275,000 TEU and was acquired by APMT in August.
The port operator is also a minority shareholder in the Qingdao Qianwan Container Terminal (QQCT) where a major expansion of the facilities at the port is now underway.
Last year the ports of northern Italy's Liguria range handled a combined 3.5 million TEU, representing an increase of six per cent compared with 2013.
APM Terminals executives met with leaders from the port group in The Hague in the Netherlands to sign a memorandum of understanding (MOU), reported portstrategy.com.
APM Terminals is investing EUR150 million (US$161.18 million) in the new terminal, while the Italian government is providing EUR300 million for civil works for the port project, which is expected to create 450 new jobs when it begins operations.
APM Terminals Vado will be integrated operationally with the existing Vado Reefer Terminal facility that has an annual handling capacity of 275,000 TEU and was acquired by APMT in August.
The port operator is also a minority shareholder in the Qingdao Qianwan Container Terminal (QQCT) where a major expansion of the facilities at the port is now underway.
Last year the ports of northern Italy's Liguria range handled a combined 3.5 million TEU, representing an increase of six per cent compared with 2013.
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