Singapore terminal operator PSA International said Friday it will manage a new container terminal in Cuba, currently under construction in the port of Mariel on the island’s northern coast, Journal of Commerce reports."PSA has signed a contract with Terminal de Contenedores de Mariel S.A. to manage a new container terminal to be constructed at Mariel Bay," a spokesman told Reuters. He declined to provide further details.
The Brazilian construction company Grupo Odebrecht is building the new terminal with the help of a $300 million loan from the Brazilian government.
PSA International won a tender last year and had been in negotiations since then with the Terminal de Contenedores, a subsidiary of the Cuban military firm Universal SA Stores.
PSA will actively participate in planning the terminal, which is scheduled to open by 2014 when the Panama Canal Authority completes a third set of larger locks that will enable passage by container ships with capacities of up to 12,500 20-foot equivalent units, or more than twice the capacity of the current Panamax ships of 4,800 TEUs.
The terminal is part of a larger scheme to develop Mariel Bay, 28 miles west of Havana, into the Cuba's most important cargo hub and center for light manufacturing.
PSA, the world’s second-largest terminal operator with 29 terminals in 17 countries, is owned by Temasek, the Singapore government’s sovereign wealth fund.
The Brazilian construction company Grupo Odebrecht is building the new terminal with the help of a $300 million loan from the Brazilian government.
PSA International won a tender last year and had been in negotiations since then with the Terminal de Contenedores, a subsidiary of the Cuban military firm Universal SA Stores.
PSA will actively participate in planning the terminal, which is scheduled to open by 2014 when the Panama Canal Authority completes a third set of larger locks that will enable passage by container ships with capacities of up to 12,500 20-foot equivalent units, or more than twice the capacity of the current Panamax ships of 4,800 TEUs.
The terminal is part of a larger scheme to develop Mariel Bay, 28 miles west of Havana, into the Cuba's most important cargo hub and center for light manufacturing.
PSA, the world’s second-largest terminal operator with 29 terminals in 17 countries, is owned by Temasek, the Singapore government’s sovereign wealth fund.