BPA invests in ICD development project in Suifenhe, China

Busan Port Authority (BPA) will participate in the Inland Container Depot (ICD) development project in Suifenhe, China. It is a part of efforts to create new cargo following its investment in Nakhodka Port, Russia.

BPA said that on Nov. 24th it signed an MoU with the Mudanjiang municipal government (a city in Suifenhe, China), the JSC Far Eastern Transport Group (DVTG) in Russia, and Hyundai Logistics over the development and operation of ICD at the President Hotel in Seoul, Korea.

The MoU covers joint investment into the ICD development project, located in the Suifenhe-Buguranikinai Trade Zone.

The agreement includes land with low lease fees, infrastructure development such as load and rail by the municipal government of Mudanjiang and Suifenhe City, cargo attraction and capital investment by Hyundai Logistics and BPA, and TSR service by DVTG.

Suifenhe links with Primosky Krai by rail with imports of 8 million tons of Russian timber annually and exports them through the port of Dailan. Considering the growth potential of Suifenhe, BPA's investment in the Suifenhe ICD will be a significant contribution to creating new cargo at Busan Port when it connects with the Port of Nakhodka, where BPA is developing fisheries terminals, container terminals and multi-purpose terminals.

BPA agreed on co-development with the city of Suifenhe in last April. <Korea Shipping Gazette>