PSA to build box terminal in Tianjin
Singapore-based port group PSA said Wednesday it will build a container terminal in Tianjin, north China, in partnership with the Tianjin Port Group.
The development of the North Harbor area of Tianjin involves building berths with 2,200 meters (about 7,200 feet) of quay length and a draft of 15 meters (49 feet), making the terminal capable of handling the largest container vessels.
PSA declined to comment on a report in Wednesday’s South China Morning Post that it would buy a 30 percent stake in the project for $200 million and that the total investment at Tianjin was about $640 million, according to Reuters.
PSA also declined to comment on market talk that it is building a stake in Peninsular & Oriental Navigation Co., the parent company of P&O Ports.