[syriacus]

PSA, Cosco Pacific, AP Moller in Dalian port project

PSA Corp, Cosco Pacific and Danish shipping giant AP Moller will jointly develop a 6-berth port project in China's Dalian city.

The project has an estimated cost of US$600 million, or S$1 billion.

Singapore port operator PSA will take a 25 percent stake in the project, while its Chinese counterpart Cosco Pacific and AP Moller will hold 20 percent each. State-owned Dalian Port Group will have the remaining 35 percent.

The project will more than double the annual container handling capacity of Dalian port to almost 5 million standard container units. -

[Cannoneer No. 4]

PSA Int'l also gov't owned, and has US port operations