PSA and IPH to build terminal at Great Yarmouth (UK)

PSA International and International Port Holdings (IPH) announced the formation of a joint-venture to operate a short sea container terminal at Great Yarmouth, on the UK East Coast. PSA will hold 60% of the shares, IPH 40%. The operational rights of the terminal have been granted for a period of 30 years, extendable for another 30 years. PSA International and IPH, through the joint venture company, plan to invest over £30M to develop the first phase of the terminal, which is projected to be operational in late 2008. The terminal will then have a quay length of 200 meter and a terminal area of 12 ha. The yearly capacity will be 250,000 teu. In a second phase, the quay length and the terminal capacity can be doubled.