PSA completes purchase of Hong Kong assets
PSA International has completed the purchase of NWS Holdings Limiteds Hong Kong port assets. The deal represents PSAs first investment in the worlds largest container port and involves the transfer of NWS Holdings equity stakes in Hong Kongs Container Terminal No. 3 (CT3) and Container Terminal No. 8 (CT8) West to PSA in a deal worth US$384.64m.
The contract for consultancy was awarded to Singapore’s Jurong Consultants and made on behalf of Horizon Singapore Terminals Pte Limited (HSTL).
The investment provides PSA with a southern gateway into China. “We are optimistic of the long-term future of Hong Kong port and confident that we are able to add value to the Hong Kong port scene. We look forward to working closely with our partners and the authorities to provide shipping line customers with high productivity and service levels in Hong Kong, ” said Mr Eddie Teh, Group CEO, PSA International.
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