APM Terminals to create and operate major Turkish port

APM Terminals and Petkim to establish a 1.5 million TEU container terminal to service Izmir and Aegean region
 
APM Terminals and Turkey-based Petkim have entered into a final agreement to create and operate Aegean Gateway Terminal (AGT). AGT will be one of Turkey’s largest container and general cargo terminals and will be entirely operated by APM Terminals under a concession agreement with operations expected to start in summer 2015. 
 
The agreement means that APM Terminals will assume full operational responsibility for the container terminal and general cargo operations in AGT. The initial investment for the container terminal is approximately USD 400 million with further investments depending on market demand. APM Terminals will have the right to operate the port for a period of 28 years which may be extended further. 
 
Petkim’s port will offer 15.5 meter water depth and an efficient access to Turkey’s high growth market. The initial capacity of the new container terminal will be 1.5 million TEU, which is 50 percent more than the capacity of the current city port of Izmir (Alsancak Port). 
 
Petkim is listed on the Istanbul Stock Market and produces around 3 million ton of petrochemical products annually. It owns the rights to operate Petkim Port. Petkim is a subsidiary of Socar Turkey Enerji A.S., the State Oil Company of Azerbaijan. It provides 50 percent of annual Azerbaijan state income. 
 
Petkim’s port is located in the petrochemical complex of Petkim in Nemrut Bay and close to Izmir – the second largest industrial city in Turkey with a rapidly growing population of 4 million. The hinterland for the port is the Aegean Region with a population of 9.6 million. With current market utilization already at 90 percent, the area needs more port capacity to service growth. Container volume growth in the Izmir area is driven by a combination of Industrial manufacturing, import of consumer goods for a rapidly growing population and agricultural exports. 

Quelle: LogEastics

Portal: www.logistik-express.com