DP World wooed by Korean container terminal authority
Representatives of Dubai Port (DP) World reportedly met with officials from the Korea Container Terminal Authority (KCTA) in Dubai recently to discuss potential investments of the former at South Korea's second largest container terminal, the Port of Gwangyang.
"We have spoken to Dubai Port (DP) World this morning," said head of the International Logistics Business Team at KCTA, Jongjin Kil according to Khaleej Times.
Gwangyang Port has 12 berths, with eight having a 50,000 ton capacity and four having a 20,000 ton capacity. The port also has a capacity to cater for a vessel handling 10,000 TEUs.
Kil added that he looked forward to working with DP World on the port project in the future.
DP World is a joint lead sponsor and investor in South Korea's largest container terminal, Pusan Newport Co (PNC) along with Samsung Corporation and the Korean government.
The company has so far been contracted as the operations and maintenance provider to PNC while KCTA operates the port. The Korean firm will also be inviting commercial shipping companies, developers, consultants and other interested parties to the port of Gwangyang to view the state-of-the-art facilities.
Another seven berths with a 50,000 capacity are also under construction, four of which will be completed at the end of the year and the remainder by 2008. The hope is that Gwangwang Port will develop into an international logistics and distribution hub.