A consortium led by Hyundai Engineering & Construction Co. Ltd. will build 16 new berths in Singapore to enable the island state to handle growing demand for container capacity, the Maritime and Port Authority of Singapore said Wednesday.
In a statement to Dow Jones Newswires, the MPA said the project will add 14 million twenty foot equivalent units, or TEUs, to Pasir Panjang terminal's container handling capacity.
The authority said work on the new berths will commence in the last quarter of this year and will take about six years to complete.
The MPA said Tuesday that the other consortium partners for the S$1.92 billion (US$1.27 billion; €911 million) project include Penta Ocean Construction Co. Ltd., Koon Construction & Transport Co. Pte. Ltd. and Van Oord Dredging and Marine Contractors.
Singapore's port handled 24.8 million TEUs in 2006, a 6.9 percent increase from the previous year, according to statistics on the MPA Web site. It is the world's busiest port with 1.3 billion gross tons of vessel arrivals in 2006.
In a statement to Dow Jones Newswires, the MPA said the project will add 14 million twenty foot equivalent units, or TEUs, to Pasir Panjang terminal's container handling capacity.
The authority said work on the new berths will commence in the last quarter of this year and will take about six years to complete.
The MPA said Tuesday that the other consortium partners for the S$1.92 billion (US$1.27 billion; €911 million) project include Penta Ocean Construction Co. Ltd., Koon Construction & Transport Co. Pte. Ltd. and Van Oord Dredging and Marine Contractors.
Singapore's port handled 24.8 million TEUs in 2006, a 6.9 percent increase from the previous year, according to statistics on the MPA Web site. It is the world's busiest port with 1.3 billion gross tons of vessel arrivals in 2006.