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.
Beibu Gulf-PSA International Container Terminal (BPCT) aims to support container trade growth in the region and the vast hinterlands of Chongqing, Guangxi, Hunan, and Sichuan. The port is connected by key shipping routes linking China to Southeast Asia, East Africa, and the Mediterranean.
BPCT is in line with the Chinese government’s ‘One Belt, One Road’ development programme as it is strategically placed along the international corridor linking to the ASEAN region. Thus, the terminal acts as a strategic pillar to support the opening-up and development of the southwest and mid-south regions of China. In the meantime, BPCT forms an important gateway connecting the ‘Silk Road Economic Belt’ and the ’21st Century Maritime Silk Road’ projects undertaken by the Chinese government to improve land and sea trade routes to China.
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Moreover, the JV is the first strategic partnership of PSA with BPG and PIL in China.
“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.
BPCT will operate and manage a total quay length of 1,533 m with a designed capacity of 3 million teu per year. The terminal will also be developed into a world-class facility to service the mega-container vessels. It will also be equipped with super post-Panamax quay cranes of 23-row outreach and provide a water-depth of 15.1 m. The terminal is scheduled to begin operations in the fourth quarter of 2015.