DP World and Taiwan International Ports Corporation (TIPC) have signed a Memorandum of Understanding (MoU) for the development of Kaohsiung Port’s Terminal 7 in Taiwan.
The agreement marks the beginning of a joint effort to seek future business opportunities and to steer growth in Taiwan’s port infrastructure, while enhancing the country’s trade potential by establishing seamless cargo movement across its supply chain.
DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, said: “Our strategy in developing in strategic locations where our customers want us to be, serving global trade and being able to handle the new generation of ultra large vessels shows how we are investing in the future, translating our vision into reality.”
DP World Asia Pacific Region Senior Vice-President and Managing Director, Rashid Abdulla, added: “Kaohsiung has the potential to benefit from our operational efficiencies in the region. It has enough container capacity to serve immediate growth in Taiwan but does not yet have the capability to attract new growth resulting from the Ultra Large Container Vessels added to line-haul services. This MoU marks the intention to tackle this challenge.”
According to the TIPC’s plan, Container Terminal 7 will be equipped with five wharves and cover 145.7 hectares.
The construction is to be divided into two stages, with the first stage scheduled to be completed in 2018.
The terminal will be able to accommodate 2.25 million twenty-foot equivalent units (TEU) once the first stage of construction is completed.
TIPC said that the main goal of this development scheme is to strengthen the competitiveness of Port of Kaohsiung and to enhance quality of facilities and service to face strong competition challenge from rapid-developing neighbor ports, the shifts in global trading market and the trend of the mega ships.