Global terminl operator PSA International (PSA) has signed a joint-venture agreement with Beibu Gulf Port Group (BPG) and Pacific International Lines (PIL) to operate a new container terminal in Qinzhou City, Guangxi Province, China.
PSA is currently ranked as the biggest terminal operator in the world.
The joint-venture terminal is PSA’s first venture in the South-Western China region. Accessible to Southeast Asia by land and sea, the region has been earmarked by the Chinese government as a key area for coastal development and collaboration.
The terminal will support container-trade growth in the region and serve the vast hinterlands of Guangxi, Sichuan, Chongqing and Hunan. It will also connect the region to key shipping routes linking China to ASEAN countries, East Africa and the Mediterranean.
Mr Tan Chong Meng, Group CEO of PSA, said: “Guangxi-Beibu Gulf’s strategic location, established transport infrastructure and extensive hinterland offer tremendous potential for our terminal to support the remarkable growth in China’s South-Western region.
“I am confident that with the complementary strengths of the 3 shareholders (BPG, PIL and PSA), and the unwavering support from the Guangxi Government, we will be able to transform our joint-venture terminal into a port of choice for the shipping lines.”
Zhou Xiao Xi, Chairman of Beibu Gulf Port Group (BPG) said: “PSA is one of the world’s largest port groups, known for its management expertise, operational efficiency and proven track records. PIL is one of the largest ship-owners in Southeast Asia, with diversified operations in logistics related activities such as supply chain management, consolidation/distribution facilities, multi-modal services, and container depot/terminal operations.
“Tapping on the mutual expertise of all parties, the collaboration between PSA, BPG and PIL will help to spur economic growth in the region.”
The joint-venture will operate and manage a total quay length of 1,533 metres, a designed capacity of 3 million TEU per annum, and be developed into a world-class facility to service the mega container vessels plying the world’s maritime trade routes.