Committed to PEOPLE'S RIGHT TO KNOW
Vol. 5 Num 990 Wed. March 14, 2007  
   
Business


Singapore's PSA to build Panama port


PSA International, which runs the world's busiest container port in Singapore, announced Monday it would build a 100-million-dollar container terminal at the Pacific end of the Panama Canal.

PSA chief executive Eddie Teh said the new facility will be able to handle 450,000 containers in 2009 when it starts up operations.

The terminal will be built on the former US Rodman naval base at the canal's Pacific mouth.

"The new terminal will double the installed port capacity in the country, importantly offering new job opportunities for Panamanians together with the transfer of advanced technology," said Panama's President Martin Torrijos.