Maritime and Port Authority of Singapore Pens Deal for $1.82 Billion Mega-Port

The project, dubbed Tuas Terminal Phase 1, will take at least six years to complete
From www.justluxe.com, by Marissa Stempien

The Singapore port is the largest maritime port in the world.

The Maritime and Port Authority of Singapore and the Dredging International Asia Pacific-Daelim Joint Venture have just signed a SGD 2.42 billion (approx. $1.82 billion) deal to build a new mega-port terminal off the coast of Singapore. The project, dubbed Tuas Terminal Phase 1, will take at least six years to complete and is expected to include 20 deep-water berths with a total capacity of 20 million TEUs (twenty-foot equivalent units) annually. In addition to consolidating the port’s current facilities, the project will also open up existing land near the hub for urban redevelopment.

To complete the Tuas Terminal Phase 1 project, the Dredging International Asia Pacific-Daelim Joint Venture will be responsible for reclaiming around 726 acres of land, building an 8.6 kilometer (approx. 28,200 ft.) quay wall and foundation, and dredging the surrounding basins and fairways. An estimated 80 million cubic meters (approx. 262.5 million cubic feet) of reclamation fill will be used in the project, excavated from the seabed, beaches and other “land-based projects” in the surrounding area.

singapore portRendering Credit: Deme Group 

Over the next six years the development will adhere to a set of strict environmental regulations that will be set and overseen by the Maritime and Port Authority of Singapore through their Environmental and Monitoring Management Plan. As the second largest maritime hub in the world (the Port of Shanghai tops the list), they also take their local eco-system into consideration and have pledged $100 million to promote “clean and green” shipping, through their Maritime Green Initiative. 

Continue reading at JustLuxe Feed