The acquisition of Poland’s largest container terminal is worth more than $1.1 billion, according to The Wall Street Journal.
Global port operator group PSA International Ptd. Ltd. (PSA), the Polish Development Fund (PFR) and IFM Investors signed an agreement to jointly acquire 100 percent of the shares of Deepwater Container Terminal Gdansk, Poland’s largest container terminal, from the Global Infrastructure Fund II, managed by Macquarie Infrastructure and Real Assets (MIRA), as well as MTAA Super, AustralianSuper and Statewide Super, the entities announced Tuesday in a joint press release.
The acquisition, worth more than 1 billion euros ($1.1 billion) according to The Wall Street Journal, is subject to approval by the relevant competition authorities.
DCT Gdansk, which started operations in 2007, handled 1.9 million TEUs in 2018. The terminal has a quay length of 1,306 meters and a maximum depth of 17 meters, and it is the only terminal in the Baltic that can serve ultra large container vessels, which have a capacity up to 23,000 TEUs.
The terminal is expected to reach full capacity utilization in the coming years, according to the press release, and PSA, PFR and IFM Investors will “explore the construction of a new expansion area and further increases in capacity.”
“DCT Gdansk is PSA’s first investment in Eastern Europe, and we look forward to working closely with our partners PFR and IFM to further develop its facilities and to strengthen its position as the preferred port of call for Poland and the Baltic Sea,” said Tan Chong Meng, Group CEO of PSA International, in the press release.
The acquisition will expand PSA’s network of more than 50 coastal, rail and inland terminals in 17 countries, which include European and Mediterranean operations in Belgium, Italy, Portugal and Turkey.