CMA CGM invests in the port of Busan

CMA CGM has acquired a 12% stake in South Korea’s ‘Busan 2-3’ container terminal that is expected to become operational in 2011.

The terminal, which will feature a 2.7m teu annual capacity when completed, will be operated in partnership with Macquarie, Bouygues, Hyundai, KMTC, Busan Port Authority and local operators KUKJE and KCTC. Busan 2-3 is CMA CGM’s first port investment in South Korea, and the second one in Asia (a cooperation agreement was signed in Xiamen in November 2007). The project further strengthens the relations ship between CMA CGM and South Korea, where the group’s giant container vessels are currently being built.

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