Singapore's PSA International, the world's No 2 ports firm, and Turkish conglomerate Akfen Holding have signed an agreement to operate Turkey's Mersin Port, the firms said on Saturday.
The two companies will operate Mersin, a port on Turkey's Mediterranean coast, till 2043 through a joint venture firm Mersin International Port Management after successfully bidding for the operating rights for US$775 million, the companies announced in a joint statement.
'Mersin's location on the East Mediterranean makes it well-placed to tap the booming growth in trade between and within Asia, Middle East and Europe,' Eddie Teh, group chief executive officer of PSA said in a statement.
According to the statement, Mersin has a designed capacity of 880,000 twenty-foot equivalent units (TEUs), a standard industry measure.
Owned by Singapore's investment company Temasek, PSA runs 25 ports in Singapore, Belgium, China, India, Italy, Japan, Korea, Netherlands, Panama, Pakistan, Portugal, Thailand, Vietnam and Turkey.
The two companies will operate Mersin, a port on Turkey's Mediterranean coast, till 2043 through a joint venture firm Mersin International Port Management after successfully bidding for the operating rights for US$775 million, the companies announced in a joint statement.
'Mersin's location on the East Mediterranean makes it well-placed to tap the booming growth in trade between and within Asia, Middle East and Europe,' Eddie Teh, group chief executive officer of PSA said in a statement.
According to the statement, Mersin has a designed capacity of 880,000 twenty-foot equivalent units (TEUs), a standard industry measure.
Owned by Singapore's investment company Temasek, PSA runs 25 ports in Singapore, Belgium, China, India, Italy, Japan, Korea, Netherlands, Panama, Pakistan, Portugal, Thailand, Vietnam and Turkey.