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South Korea’s Hanjin Shipping plans to spend US$81 million to build a new container terminal at the southern Spanish Port of Algeciras.
The terminal, scheduled to open in July, 2010, is expected to handle around 1.8 million TEUs in its first year of operation.
Hanjin will use the facility as a regional transhipment hub for traffic to and from Northern Europe, the east coast of the United States and South America.
The APM Terminals facility operated by A P Moller-Maersk handles most of the 3.6-million TEUs of annual traffic at Algeciras.
The Algeciras terminal will be the third box facility in Europe for Hanjin, which already has a presence in Antwerp and Rotterdam.
The Algeciras port authority will invest up to $545 million on infrastructure for the new terminal.
CargonewsAsia
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