APMT to invest in Port Elizabeth terminal
APM Terminals is set to invest US$70m into Port Elizabeth in order to make the terminal read for future trade.
The investment will hope to enable Port Elizabeth, which is one of the largest container terminals at the Port of New York and New Jersey, to receive increased loads arriving from larger vessels travelling via the Panama Canal.
Kim Fejfer, APMT’s CEO, said “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.”
He added: “We have developed strong relationships with clients, the port community and business leaders necessary to confidently expand our presence and invest for the future.”
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. It means Port Elizabeth’s current capacity of 1.5m teu will be expanded to 2.3m teu.
Wim Lagaay, president of APM Terminals North America, said: “We applaud the Port Authority of New York and New Jersey and the Port Department who have been instrumental in deepening the harbour, heightening the Bayonne Bridge and listening to the changing needs of terminal operators and customers.”
He 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.”
APM Terminals will issue a private tender for construction of the berth in the fall of 2016.
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