Thursday, October 4, 2012
PSA Singapore to spend $2.9 billion to expand port facilities
PSA Singapore Terminals will spend $2.9 billion to develop phases 3 and 4 of the Pasir Panjang terminal, according to a statement issued this week.
Work to be done in phases 3 and 4 includes 15 new berths, an automated container yard and rail-mounted gantry cranes.
Expected to be finished in 2020, the improvements will increase Singapore's capacity to 50 million TEUs annually. This year, through August, the port has handled 20.88 million TEUs.
For more of the Bloomberg story: bloomberg.com
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