Ports America International Holdings Cooperative, an affiliate of US terminal operator Ports America Group, will buy a 10 percent stake in Taiwan's Kao Ming Container Terminal (KMCT), fully-owned by Taiwanese box carrier Yang Ming Marine Transport, reported SeeNews Shipping.
Financial details were not available.
KMCT, located in Kaohsiung, southwest Taiwan, was set up as a build-operate-transfer (BOT) project between the Port of Kaohsiung Intercontinental Container Terminal BOT, Kaohsiung Harbour Bureau and Yang Ming.
The terminal started operations in January 2011. The facility handled 1.08 million TEUs in its first year of operation.
Ports America operates in over 42 ports and 80 locations worldwide.
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