P&O PORTS EXPANDS STAKE IN PORT OF MIAMI TERMINAL OPERATOR

P&O PORTS EXPANDS STAKE IN PORT OF MIAMI TERMINAL OPERATOR

   P&O Ports said Thursday it has expanded its interest in the Port of Miami Terminal Operating Co., the South Florida port's only multi-user container terminal.

   With the purchase of a 25-percent interest in POMTOC from Oceanic Stevedoring Co. of Miami, P&O Ports Florida, a unit of P&O Ports North America, expands its owners in POMTOC to 50 percent.

   P&O Ports is managing several construction projects totaling $11 million for the Port of Miami. Projects include construction of multi-level parking garages, reconfiguration of access roads, a cruise, cargo and security gateway complex, storage sheds, additional wharf construction, mooring and security improvements, and new warehouse space.

   P&O Ports North America operates at 22 port locations along the U.S. Atlantic and Gulf coasts. Parent P&O Ports operates 29 container terminals in 19 countries and has operations in 84 ports worldwide.