Japanese firm acquires minority stake in Taiwanese BOT port terminal

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Japanese firm acquires minority stake in Taiwanese BOT port terminal
Nippon Yusen Kaisha (NYK) and Nippon Container Terminals Co. Ltd. - owned by NYK Group and Mitsubishi Logistics - have acquired a 12.5 % stake in Yang Ming's Kao Ming Container Terminal Corp. (KMCT). KMCT is located at Port of Kaohsiung, the largest port in Taiwan.Kao Ming Container Terminal Corp. (KMCT) was established on 20 July 2007. It was originally 100% owned by Yang Ming, a Taiwan based shipping company. KMCT signed a contract for "Phase I of the Port of Kaohsiung Intercontinental Container Terminal Build-Operate-Transfer (BOT) Project" with Kaohsiung Harbor Bureau on 28 September 2007. The concession period of construction and operation is fifty years.Kaohsiung Harbor Bureau is overseen by Taiwan International Ports Corporation Ltd.KMCT's terminal has four berths. Their total length is 1,500 meters and the hinterland depth is 475 meters, whereas the designed draft is -16.5 meters, making it the deepest terminal in Kaohsiung port.The terminal started operation in January 2011 and is well known for its high-quality automated services, safety, and environment-friendly facility.The second-phase of the BOT project was started in 2012 and is scheduled to be completed in September 2014. At that time, KMCT will have four berths with a total length of 1,500 meters, and will be able to simultaneously accommodate four container ships of 14,000 TEUs or above.In July 2012, Yang Ming sold a 10 % stake in Kao Ming Terminal to Ports America International Holdings Cooperative, an affiliate of the US terminal operator Ports America Group for US$45 million. Later in December 2012, three Chinese companies - COSCO Pacific Ltd, China Shipping Terminal Development Co and China Merchants Holdings - established a Hong Kong-based joint venture to acquire 30 % of Kao Ming Container Terminal Corp for US$135 million.

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