SINGAPORE: Port group PSA International has signed an agreement with China’s Tianjin Port Group (TPG) to strengthen ties and foster greater cooperation between the two organisations.
SINGAPORE: Port group PSA International has signed an agreement with China’s Tianjin Port Group (TPG) to strengthen ties and foster greater cooperation between the two organisations.
The “Strategic Cooperation Framework Agreement” was signed by TPG’s Group President Mr Tian Chang Song and PSA’s Group Chief Executive Officer Mr Tan Chong Meng on Friday.
Currently, TPG and PSA have extensive collaboration on port projects in China.
PSA has invested in two of Tianjin Port’s container terminals, namely Tianjin Port Pacific International Container Terminal (TPCT) and Tianjin Port Alliance International Container Terminal (TACT).
These two facilities have altogether 10 berths and can handle the biggest container ships.
This makes Tianjin Port one of the preferred hub ports of call for mega container vessels in the Northeast Asia region.
The new agreement signed forms the basis for both companies to seek further collaboration and expansion.
TPG’s Mr Tian said in a statement “both organisations recognise the tremendous potential of Tianjin Port as a major container hub port in the Bohai Rim to support the further development of industries and hinterland investments in Northeast China. Together, TPG and PSA aim to ensure that Tianjin Port will be a world class facility for global container shipping.”
Meanwhile, PSA’s Group CEO Mr Tan added that “PSA is committed to give its best expertise and resources to help develop Tianjin Port into a resounding success.”