APM Terminals to buy 30% stake in Eurogate’s JadeWeserPort
A.P. Moller-Maersk-owned APM Terminals will help Hamburg-based container operator Eurogate build and develop the 3.5 million-TEU JadeWeserPort Container Terminal in Wilhelmshaven, Germany.
Last month, the German government approved Eurogate’s tender for the new deep-sea terminal on Germany’s North Sea coast, which is expected to start operations by 2010.
At the time, Eurogate said it would establish a subsidiary company, Eurogate Wilhelmshaven, and invest 350 million euros ($433 million) developing the terminal’s infrastructure, including a rail transshipment station. The German government will provide the remainder of the anticipated 1 billion euros ($1.24 billion) needed to develop the port.
Subject to regulatory approval, Eurogate will now have a 70 percent share in the joint venture with APM Terminals holding the remaining 30 percent.
APM Terminals to buy 30% stake in Eurogate’s JadeWeserPort
