Release Date: 10 July 2007
Release ID: 595
APM Terminals, the terminal arm of the A.P. Moller – Maersk Group of Denmark has been invited to lead a joint venture to develop, own and operate the Shenzhen Dachan Bay Phase 2 Container Terminal, together with the Dachan Bay Port Investment and Development Co., Ltd, and China Merchants Holdings (International) Company.
Signing of the Agreement took place today among APM Terminals, Dachan Port Investment and Development Co. and China Merchants at the Shenzhen Municipal Center. Shenzhen Mayor Xu Zong Heng and Vice Mayor Zhang Si Ping presided over the signing ceremony.
The Port of Shenzhen serves the largest export market in the world, handling 18 million TEU in 2006 and expected to handle 20 million TEU in 2007. Significant volume growth, especially from the Pearl River Delta, is envisaged to continue in the future and by 2011 total Shenzhen volume is estimated to be in excess of 32 million TEU. Development of the Dachan Bay terminal is critical for Shenzhen to meet the estimated 2011 demand, especially since Shekou and Chiwan terminals in West Shenzhen will be fully utilized by 2009 and Yantian terminals in East Shenzhen is experiencing strong throughput.
Dachan Phase-2 is a 4-berth facility with expected capacity of 3.2 million TEU. It has 102 hectares, 1,695 meters of quay and a water depth alongside of 17 meters. The first two berths will be operational by the end of 2009, capable of handling future generation vessels, with the remaining two berths operational in 2010. Total investment in the project is estimated at Chinese RMB 7.3 billion.
Neighboring Dachan Phase-1 is currently under development by a joint venture between Modern Terminals and the Shenzhen Dachan Bay Port Investment and Development Co. and is expected to be operational at the end of 2007.
During the signing ceremony while addressing Shenzhen Mayor Xu Zong Heng, Tom Behrens-Sorensen, Chief Executive of A.P. Moller - Maersk in Greater China, said “with the City of Shenzhen, Dachan Bay Port Investment and Development Co. and China
Merchants as our partners, we are confident that this terminal will have a long and bright future.”
APM Terminals will hold 51% of the new terminal, Shenzhen Dachan Bay Port Investment and Development Co. will hold 35% and China Merchants 14%.
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