Work starts on 5.5-million-TEU Pusan terminal
Work has started on the construction of Pusan Newport, a giant 5.5-million-TEU terminal complex in Pusan scheduled to be the largest single terminal in Korea.
Pusan Newport Co, Ltd. is a joint venture owned by CSX World Terminals (with a 25 percent share), Samsung Corp. (25 percent), the Hanjin group, and Hyundai Engineering & Construction Co.
CSX World Terminals is in the process of being acquired by Dubai Ports.
The first phase of the terminal is scheduled to open next January, with the first three container berths. Three more berths will be operational in 2007 and another three berths in 2009.
“The overall terminal has a conservative estimated handling capacity of 5.5 million TEUs,” Pusan Newport said.
The overall project is one of the largest in Northeast Asia. On completion, it will feature 3,200 meters (10,500 feet) of berth, 26 quay cranes, 81 yard gantries, 20 gate lanes and 10 rail tracks, with a storage yard occupying 125 hectares (309 acres).
“The terminal will be equipped for handling the next generation of large container vessels with water depths between 16 and 17 meters (52-56 feet),” Pusan Newport said. The facility will also have large quay cranes capable of handling 22-container-wide ships.
Korea has designated the area around the port as a free trade zone for logistics and affiliated industries.
To support the project, Korean government has already completed the breakwater and the dredging for temporary access channel and inside seawall. It will provide an access road, a main support road, a regional expressway and regional railroad.