APM to Invest USD 70 Mn in Port Elizabeth Terminal

APM Terminals Dutch terminal operator APM Terminals is set to invest USD 70 million into its US-based Port Elizabeth terminal, which would enable the port to receive increased loads arriving from larger vessels travelling via the Panama Canal. The Port Elizabeth facility, located in the US East Coasts Port of New York and New Jersey complex, handles over 2,100 trucks a day, 4000 terminal gate transactions and more than 500 vessel calls per year. APM said that, with the investment, the terminals current capacity of 1.5 million TEU would be expanded to 2.3 million TEU. The terminal operator plans to issue a private tender for construction of the berth in the fall of 2016. 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, Wim Lagaay, President of APM Terminals North America, said.