DP World opens port in South Korea

Dubai Port World is a lead investor in the new Pusan Newport Co. terminal, together with the Republic of Korea Government.

  • E-Mail
By  Robeel Haq Published  February 5, 2006

The President of the Republic of Korea, Mr Roh Moo-Hyun, recently opened the new Pusan Newport Co. (PNC) terminal in a special ceremony at the quayside, marking the completion of the first phase of a development that will propel the South Korea port to amongst the largest in the world by capacity. Global port operator and developer, DP (Dubai Port) World, and Samsung Corporation are the lead sponsors and investors in the project, together with the Republic of Korea Government. DP World has been contracted as the PNC’s operations and maintenance provider. The port is located at the boundary of the West side of Busan City and eastern tip of Kyongsangnam-do, Republic of Korea. The new terminal, 1.2 kilometres long, consisting of three berths of 350 metres each, designed to cater for the new generation mega-container vessels, is the first of three phases of the PNC development. A further three berths are scheduled for completion at the end of 2006 and the final three are due to be in operation by 2009. The overall terminal has a conservative estimated handling capacity of 5.5 million TEU and will stretch 3.2 kilometres. The facility is forecast to become the gateway hub of Northeast Asia because of its strategic location between Japan and Northeast China. The surrounding area also has an extremely strong indigenous market and transportation infrastructure, which makes the geographic position ideal for such a large container hub facility. In addition, a total of 4.08 million square meters of terminal and logistics support area has been designated as a Free Trade Zone, which will encompass facilities for integrated logistics and affiliated industries. “DP World's involvement in this project reflects our commitment to building long-term relationships with customers and business partners,” said Mohammed Sharaf, CEO, DP World. “Further, it underlines our ability to offer integrated terminal and logistics services, enhancing the efficiency or our customers' supply chains.”

Add a Comment

Your display name This field is mandatory

Your e-mail address This field is mandatory (Your e-mail address won't be published)

Security code