Singapore-listed port operator PSA International has signed a joint venture (JV) agreement with Beibu Gulf Port Group (BPG) and Pacific International Lines (PIL) to operate a new container terminal in Qinzhou, Guangxi, China.
The JV terminal is PSA’s first foray in the South-Western China region – one of the fastest growing economic regions in China and earmarked by the Chinese government under “One Belt, One Road” as a key area for coastal development and collaboration with ASEAN countries.
Beibu Gulf-PSA International Container Terminal (BPCT) aims to support container trade growth in the region and in the vast hinterlands of Chongqing, Guangxi, Hunan, and Sichuan. It will also connect the region to key shipping routes linking China to Southeast Asia, East Africa, and the Mediterranean.
“I am confident that with the complementary strengths of the three shareholders, and the unwavering support from the Guangxi government, we will be able to transform our JV terminal into a port of choice for shipping lines,” said Tan Chong Meng, group CEO of PSA.
Beibu Gulf Port Group (BPG) Chairman Mr Zhou Xiao Xi expressed his confidence in the partnership, stating that “the collaboration between PSA, BPG and PIL will help to spur economic growth in the region.”
BPCT will operate and manage a total quay length of 1,533 m with an alongside depth of 15.1 m and a designed capacity of 3m teu/year. To be equipped with super post-Panamax quay cranes of 23-row outreach, the terminal will be developed into a world-class facility to service mega-container vessels and is scheduled to begin operations in Q4, 2015.