One of the national priority projects designed to meet future demand driven by Busan's position as a regional shipping and logistics hub
Busan New Port Phase 2-3 is one of the five container terminals in operation at Busan New Port. Construction began in November 2007 and completed in November 2011 as originally scheduled. The terminal opened for commercial operations in January 2012 with annual handling capacity of 1.8 million Twenty-foot-Equivalent Units (TEU). BNP2-3 completed its capacity expansion to 2.5 million TEU in May 2015 and is capable of accommodating further expansion to over 3.15 million TEU.
MKIF has invested in BNCT Co., Ltd (“BNCT”), the concessionaire of Busan New Port Phase 2-3, in the form of equity and subordinated loan. As of the record date, MKIF has 30.0% of equity interest in BNCT, and MKIF’s total investment amount is KRW 309.4 billion, which is comprised of equity of KRW 66.4 billion and subordinated loan of KRW 243.0 billion.
|Government authority:||Ministry of Oceans and Fisheries|
|Concession term:||29 years and 3 months|
|Concession term commencement:||December 2011|
|Berthing facilities:||Four 50,000 ton berths|
|Capacity:||Handling capacity currently at 2.5 million TEU per year with room for expansion to 3.15 million TEU|