HUTCHISON, KOREAN SHIPPING LINES NEGOTIATE KWANGYANG PORT DEVELOPMENT
A consortium consisting of Hutchison Port Holdings, Hyundai Merchant Marine and Hanjin Shipping is negotiating with Korean government authorities over a project to develop further container terminal facilities in the port of Kwangyang, near Busan.
Hong Kong-based Hutchison Port Holdings said that the consortium has been selected to participate in further negotiations for the Kwangyang port development project in Korea, and is now “finalizing the terms of the concession with the Korea Container Terminal Authority.”
The Kwangyang project includes the development and operation of the second and third phases of the container terminal. The existing phase one container terminal handled 665,000 TEUs in 2000.