APM Terminals to Invest in Port Elizabeth
APM Terminals’ Port Elizabeth facility will receive an investment of some $70 million to expand its current capacity.
The expansion will rake the terminal from its current capacity of 1.5 million TEU per year to 2.3 million TEU.
The facility is one of the largest container terminals in the Port of New York and New Jersey’s port complex, handling over 2,100 trucks a day, 4,000 terminal gate transactions, and more than 500 vessel calls per year.
“We are an infrastructure leader and our investment in Port Elizabeth will ensure a state-of-the-art port that serves as a business generator between the United States and other economies,” said APM Terminals CEO Kim Fejfer. “We have developed strong relationships with clients, the port community and business leaders necessary to confidently expand our presence and invest for the future.”
The Port of New York and New Jersey is the largest port on the U.S. east coast and the third largest in the U.S. with 6.37 million TEU handled in 2015. Over $200 billion in cargo value moves through the port that serves a population of 20 million located within three hours of the port. Beginning in 2014, the Port Authority of New York and New Jersey has committed to a ten year, agency-wide capital investment campaign for transportation infrastructure.
“We applaud the Port Authority of New York and New Jersey and the Port Department who have been instrumental in deepening the harbor, heightening the Bayonne Bridge and listening to the changing needs of terminal operators and customers,” said Wim Lagaay, President of APM Terminals North America added. “We have shared our vision to create a container terminal capable of ushering in the new era of ultra-large container vessels and to serve more sophisticated customer needs. Our investment in a new berth capable of handling 13,000 TEU vessels will help Port Elizabeth become even more competitive and represents the first in a series of modernization initiatives to ensure our end user experience is truly industry-leading.”
Molly Campbell, Director of the Port Department for the Port Authority of New York and New Jersey noted that APM Terminals is an important service provider at the Port of New York and New Jersey. “As one of the original container terminal operators at our port we welcome APM Terminals continued investment in order to ensure that we remain a key gateway for the next generation of cargo ships,” she added. “Modernizing our port infrastructure is critical to our regional economy’s continued competitiveness.”
APM Terminals will issue a private tender for construction of the berth in the fall of 2016.
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