Incheon Port Authority (IPA) announced on the 20th that it has selected the provisional Incheon Global Container Terminal Consortium as the preferred negotiator for the Incheon New Port Phase 1-2 container terminal project.
The Incheon Global Container Terminal Consortium consists of five companies: Seongwang, Hanjin, E1, Korea Shipping, and HMM.
On the 17th, IPA held an evaluation committee meeting composed of external experts in various fields to comprehensively assess cargo generation capability, terminal operation capacity, capital procurement plans, and rental fees, ultimately selecting the preferred negotiator.
Perspective view of Incheon New Port Phase 1-2 Container Terminal [Provided by Incheon Port Authority]
IPA plans to conduct implementation negotiations with the consortium for three months and sign the implementation agreement around August. After the agreement is signed, construction work for the official opening of the container terminal in 2027, along with the introduction of automation equipment, will be promoted.
This terminal is being developed by IPA with an investment of 670 billion KRW, consisting of three berths capable of handling 4,000 TEU each (with one additional berth planned). It will have the capacity to handle an annual container throughput of 1.38 million TEU.
An IPA official stated, "We will strive to open the Incheon New Port Phase 1-2 container terminal as Incheon Port’s first fully automated terminal by 2027."
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