PSA, COSCO Pacific, APM Terminals to buy Dalian terminals

PSA, COSCO Pacific, APM Terminals to buy Dalian terminals    Dalian Port Container Terminal Co. Ltd. Monday signed a 50-year agreement with Dalian Port (Group) Co., Ltd. to acquire, construct and manage Berth’s 13, 14, 15 and 16 at Dalian Dayaowan Phase II.
   Dalian Port Container Terminal Co. Ltd. is a joint venture established in September 2004 between PSA, COSCO Pacific, APM Terminals and Dalian Port Container Co. Ltd.
   The agreement for the four berths follows the leasing agreement signed between the two parties in July for Berth 11 and 12.
   Dalian Dayaowan Phase II comprises six berths (11 to 16) with a designed annual handling capacity of 2.8 millions TEUs. It has a total site area of about 1.25 millions square-meters, a quay length of 2,097 meters (6,880 feet) and a water depth alongside ranging from 13.5 meters (44.3 feet) to 17.8 meters (58.4 feet), capable of handling “super post-Panamax” vessels.
   COSCO Pacific said that to cope with the joint venture company’s expansion commitment, its registered capital and total investment have been increased to RMB1.28 billion ($158 million) and RMB3.8 billion ($469 million) respectively.