PSA looking to build container port in Panama

Singapore: Panamanian Trade and Industry Minister Alejandro Ferrer has said that Singapore-based PSA has expressed an interest in developing a container port on Panama's Pacific coast. The project, which is yet to be approved, is expected to complement the pending $600m mega-port project on the western entrance of the canal whose potential investors include P&O Ports, NYK, Stevedores Services of America and APM Terminals. Ferrer claimed that the new project would consolidate Panama's position both, as the main centre for logistics in Latin America, and the most important cargo-distribution centre in the world.  [14/02/07]