PIL, PSA Singapore sign joint venture agreement
Singapore-based Pacific International Lines and PSA Singapore Terminals on Jan. 4 signed a joint venture agreement to jointly manage and operate a dedicated container terminal for PIL in Singapore.
PIL-PSA Singapore Terminal Pte Ltd. (PPST) will operate three container berths at Keppel Terminal and will have representatives from both companies on its board and management team.
'The joint venture is the result of many years of goodwill and strong working relationship with PSA at all levels. It also further reinforces PIL's commitment to Singapore as a major hub port,' said Y.C. Chang, executive chairman of PIL.