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PSA expands into south-western China with new container terminal JV
PORT operator PSA International has ventured into China's south-western region with a new joint venture to run a new container terminal in Guangxi province, it said in a press release on Wednesday.
Noting that the south-western area was one of China's fastest growing economic regions, PSA said that the terminal, in the city of Qinzhou, would support container trade growth there and serve Guangxi, Sichuan, Chongqing and Hunan.
The Beibu Gulf-PSA International Container Terminal will also connect the region to key shipping routes linking China to South-east Asia, East Africa and the Mediterranean, it added.
PSA inked the joint venture with Beibu Gulf Port Group (BPG) and shipping line Pacific International Lines (PIL).
"Guangxi-Beibu Gulf's strategic location, established transport infrastructure and extensive hinterland offer tremendous potential for our terminal," said PSA group chief executive Tan Chong Meng in the statement.
BPG chairman Zhou Xiao Xi also said in the statement that PSA was "known for its management expertise, operational efficiency and proven track records", adding that the collaboration would help boost economic growth in the region.
The terminal is expected to begin operations in the fourth quarter of 2015.