Macquarie Korea Infrastructure Fund will invest US$277 million in South Korea's Busan New Port Container Terminal.
The company has the right to develop, operate and maintain Phase 2-3 of Busan New Port.
South Korea has designated Busan New Port as its national port priority project, intended to meet future demand for it as a regional shipping and logistics hub.
The Macquarie concession, which was granted by South Korea's Ministry of Maritime Affairs and Fisheries, is for 29 years and three months from the date of the start of the operation. Construction is expected to take about 48 months, and the terminal is expected to start operating in early 2012.
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