A consortium of Bouygues Travaux Publics, the public works subsidiary of French construction and civil engineering company Bouygues Construction, won a 30-year concession contract to build and operate one of the four terminals of the new container port in Busan in southeast South Korea for US$1.03 billion.
The contract was awarded by the country's ministry of maritime affairs and fisheries to Busan New Container Terminal, comprising Bouygues Travaux Publics, South Korean Hyundai development company, French marine freight company CMA CGM and its South Korean peer KMTC, local port operators Kukje Transportation Co Ltd. and KCTC as well as Busan Port Authority (BPA) and Macquarie Korea Infrastructure Fund (MKIF).
BNCT will design, build and provide equipment for one of the port's terminals that will cost $853.81 million, of which Bouygues Travaux Publics will receive $365.5 million. The construction work began in the beginning of January while the terminal should be delivered at the end of 2011.
The new port will replace the old one located in the central part of the city and ranks fifth among the world's biggest container ports. The new facility will handle the significantly increased container traffic and will service the local and international markets, namely the Chinese one.
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