BREAKING NEWS: Port of Hamburg invests $1.3 billion in Waltershofer expansion

The Port of Hamburg is set to invest approximately EUR1.1 billion ($1.3 billion) to modernize container terminal operations at Waltershofer Harbor.

Under this capital development project, the Elbe approach to the harbor is to be enhanced and additional terminal yards will be created.

Also, the turning basin will be widened from its current 480 meters to 600 meters.

Around 90 pct of the large container vessels calling at Hamburg are currently handled at Waltershofer Harbor.

According to the Port officials, the vessels will have a larger water surface available for turning maneuvers, thus ensuring optimal performance and safety.

The HPA said that these infrastructure works are scheduled to be completed by the mid-2030s and that some of the project costs will be covered by public funding.