PSA acquires stake in Lianyungang terminal

  • PSA wins tender for CSCL’s share in Chinese container terminal

PSA International (PSA) has won a tender floated by China Shipping Container Lines (CSCL) for its share in a new container terminal company in Lianyungang Port in Jiangsu Province, China.

The joint venture between PSA and Lianyungang Port Group, subject to regulatory approval, marks PSA’s first major foray into the Yangtze River Delta region – one of the most important economic regions in China

The terminal is poised to support the container trade originating from the hinterland of Shandong and Jiangsu, China’s second and third largest economic provinces respectively, and connecting it to the shipping routes linking China with Europe, the Americas and the rest of Asia.

“Lianyungang’s strategic location, established transport infrastructure and extensive hinterland offer tremendous potential for this joint venture to ride the waves of continuous growth in the Yangtze River Delta region,” said Tan Chong Meng, Group CEO of PSA.

“PSA is committed to building and strengthening this partnership with the Lianyungang Port Group and contributing to the transformation of Lianyungang into a world-class Port of Call.”

The container terminal has a designed capacity of 2.8 million TEU and will be capable of handling the world’s largest container vessels. It has 1,700 metres of quay length, super-post Panamax quay cranes and a water-depth of 16.5 metres. The terminal is expected to commence operations in 2014.

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