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APM Terminals to operate Turkish port

APM Terminals to operate Turkish port
Istanbul: APM Terminals and Turkey-based Petkim have entered into an agreement to build and operate Aegean Gateway Terminal under a 28-year concession deal with operations expected to start in 2015.

The agreement allows APM Terminals to assume full operational responsibility for the container terminal and general cargo operations in AGT.

An initial $400m will be invested for the construction of the container terminal with additional investments to be considered depending on market demand.

Kim Fejfer, ceo of APM Terminals, explained that the independent port operator sees the deal as a winning combination of Petkim Port's location, its market access and natural 15.5 metres deepwater.

The initial capacity of the new container terminal will be 1.5m teu, which is 50% more than the capacity of the current city port of Izmir Alsancak.

TAGS: Ports