Contract for the Tuas Terminal Phase 1 Reclamation, Wharf Construction, and Dredging project has been signed by Maritime and Port Authority of Singapore (MPA) and the Dredging International Asia Pacific-Daelim Joint Venture (DDJV).
The contract signed for USD 1.83 billion and completion of the project is expected within six years.
The New Port and Contract Signed:
MFAME’s Perception:
- The world’s second-busiest port in terms of total shipping tonnage, their decision to build new mega port receives a warm welcome, in order to reduce the ship waiting time at anchorage.
- Movement of cargo’s would speed up, in turn ship owner, cargo owner and receiver will be more benefited.
- Country’s economy would increase.
