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|  | | PSA¡¯s Tianjin Phase III Investment Blessed by Beijing |
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¡¡¡¡China¡¯s top planning agency, the National Development and Reform Commission, confirmed that PSA¡¯s investment in the six berths in Tianjin Port Phase III had been approved.
¡¡¡¡The Singaporean state-owned port operator will hold a 49% stake in the RMB6.6 billion, with the remainder owned by Shanghai-listed Tianjin Port Company Limited.
¡¡¡¡According to PSA¡¯s spokesperson in Beijing,Tianjin Port Pacific International Container Terminal, will build six berths, with a total quay length of 2300 meters and an annual capacity of 4 millions TEU, as well as operate the berths for 50 years.
¡¡¡¡The first three berths will be up and running by 2008, said the port operator.PSA also holds a 20% stake in Tianjin Port Alliance International Container Terminal, which is currently building four berths in Tianjin Port Phase II in the Beigangchi (north port) area, and owns a 50-year concession on the four berths, that are expected to be operational early next year.The four berths at Phase II will have an annual capacity of 1.7 million TEU. The other owners of TPAICT include OOCL (20%), ATM (20%) and Tianjin Port Group (40%). |
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