PSA gets active in Lianyungang
A subsidiary of PSA International (PSA) has signed a sale and purchase agreement to acquire a stake in a new container terminal company in Lianyungang port in Jiangsu Province (China). The joint venture between PSA and Lianyungang Port Group will take over the container terminal project from China Shipping Container Lines following completion of the deal which is subject to regulatory approval. The container terminal marks PSA’s first major foray into the Yangtze River Delta region – one of China's most important economic regions.
The terminal is poised to support container traffic originating from the hinterland of Shandong and Jiangsu, China’s second and third-largest economic provinces respectively, and connecting it to the shipping routes linking China with the rest of Asia, Europe and the Americas.