Nature of the asset
Busan New Port Phase 2-3 is one of the national priority projects designed to meet future demand driven by Busan’s position as a regional shipping and logistics hub. Construction is expected to take approximately 48 months. Upon completion, it will be a container terminal, handling maximum capacity of 2.7 million Twenty foot Equivalent Units (TEUs) per year.
Nature of the investment
MKIF has committed to invest a total of KRW 259.4 billion in Busan New Container Terminal (BNCT), the concessionaire of Busan New Port Phase 2-3. The investment comprises of 30% equity (KRW 66.4 billion) of BNCT, making MKIF the largest shareholder, and 100% of subordinated debt (KRW 193 billion), raised by BNCT.
Concession agreement
| Government authority: | Ministry of Land, Transport and Maritime Affairs |
|---|---|
| Concession term: | 29 years and 3 months from the start of the operation |
| Concession term commencement: | Under construction, Operation commencement expected in 2011 |
Facilities
| Site area: | 840,000m2 |
|---|---|
| Berthing facilities: | Four 50,000 ton berths |
| Capacity: | Estimated maximum handling capacity 2.7 million TEUs per year |
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