PSA International Ventures into South-Western China
Singapore-based container terminal operator PSA International (PSA) has signed a joint venture agreement with China’s Beibu Gulf Port Group (BPG) and compatriot container line Pacific International Lines (PIL) to operate a new container terminal in Qinzhou City, Guangxi Province, China.
The BEIBU GULF-PSA International Container Terminal is PSA’s first foray in the South-Western China region – one of the fastest growing economic regions in China.
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 with ASEAN countries.
The terminal will support the 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 & the Mediterranean.
Under the action plan for the ‘One Belt, One Road’ development, Guangxi is being positioned as an international corridor linking to the ASEAN region, and a strategic pillar to support the opening-up and development of the southwest and mid-south regions of China.
It also forms an important gateway connecting the Silk Road Economic Belt and the 21st-Century Maritime Silk Road.
The joint venture will operate and manage a total quay length of 1,533m, with a designed capacity of 3 million TEUs per annum.
It will be equipped with Super-Post Panamax quay cranes (of 23-row outreach) and provide a water-depth of 15.1 metres. Commencement of operations is expected in 4Q 2015.