<\/p>\n
DP World announced it is investing US$50 million (approximately \u20a966 billion) to develop a new logistics center in Busan New Port.<\/p>\n
Construction of the facility in the 75,000-sqm land is set to commence at the end of 2024, with operations expected to start by the second quarter of 2026. The DP World Busan Logistics Centre (BLC) will have capacity to process nearly 80,000 TEUs of cargo per year by 2028 and offer logistics services such as assembly, processing, and packaging to local and regional customers.<\/p>\n
Glen Hilton, CEO & Managing Director, Asia Pacific, DP World, said, \u201cWith this major investment, DP World will be able to combine our strong freight handling and multimodal transportation capabilities with new warehousing and logistics solutions to provide customers in South Korea a more seamless end-to-end supply chain offering. The DP World Busan Logistics Centre will cement Busan New Port\u2019s position as a key supply chain hub for Asia Pacific, and thus empower local and international businesses to seize the expanding opportunity in intra-Asia trade.\u201d<\/p>\n
Leveraging South Korea\u2019s manufacturing prowess and the Busan-Jinhae Free Economic Zone\u2019s (BJFEZ) central position in the country\u2019s advanced manufacturing sector, the BLC plans to specialize in exports of completed automobiles, automotive parts and materials, fishery equipment, machinery and other key Korean industry outputs.<\/p>\n
BJFEZ is the third-largest free economic zone in South Korea, with 700 million people living within a 1,200km radius. A gateway to Eurasia and the Pacific, the economic zone is developing a mega \u2018Logistics Tri-Port\u2019, which will span sea, air and land ports including Busan New Port, the forthcoming Jinhae New Port, the forthcoming Gadeok International Airport and the Busan New Port Freight Station with rail connections to parts of Eurasia.<\/p>\n
Through its subsidiary, Pusan Newport Company (PNC), DP World operates the largest terminal in the Port of Busan, the world\u2019s second busiest transhipment port and one of the highest performing ports in Asia. In 2020, DP World also acquired a majority stake in UNICO Logistics, a Korean multimodal transport and rail specialist with a large footprint in East Asia, Central Asia and Russia.<\/p>\n
As part of the US$50 million investment, DP World will integrate operations of the new BLC with freight handling solutions from PNC and UNICO Logistics\u2019 transcontinental rail freight services. \u00a0<\/p>\n<\/div>\n
maritime professional<\/p>\n","protected":false},"excerpt":{"rendered":"
DP World announced it is investing US$50 million (approximately \u20a966 billion) to develop a new logistics center in Busan New Port. Construction of the facility in the 75,000-sqm land is set to commence at the end of 2024, with operations expected to start by the second quarter of 2026. The DP World Busan Logistics Centre …<\/p>\n","protected":false},"author":1,"featured_media":40581,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[],"class_list":["post-40580","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/40580","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=40580"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/40580\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/40581"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=40580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=40580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=40580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}