Ningbo Port Group and APM Terminals have signed an agreement to jointly invest in and operate berths 3, 4 and 5 at the Chinese port’s Meishan Container Terminal.
The deal reflects a 75 percent investment by Ningbo Port Group and a 25 percent investment by APM Terminals, the port-operating arm of AP Moller-Maersk. The new facility is expected to be built and become operational by Dec. 31, 2014.
Ningbo Port Group and APM Terminals have signed an agreement to jointly invest in and operate berths 3, 4 and 5 at the Chinese port’s Meishan Container Terminal.
The deal reflects a 75 percent investment by Ningbo Port Group and a 25 percent investment by APM Terminals, the port-operating arm of AP Moller-Maersk. The new facility is expected to be built and become operational by Dec. 31, 2014.
“This agreement creates important, new port capacity needed for our customers in one of the fastest growing container markets in the world,” said Henrik Lundgaard Pedersen, CEO of APM Terminals in the Asia-Pacific region, in a written statement.
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