Singapore to spend $1.4b to expand port

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SINGAPORE, Dec 23 (AFP): Singapore is set to spend two billion dollars (1.41 billion US) to increase its port's annual capacity by about 40 per cent, a newspaper reported yesterday.
The project is scheduled for completion by 2013 and is expected to allow Singapore's port to handle higher volumes from increased global trade, the Straits Times reported.
The expansion will add 16 berths to the Pasir Panjang terminal, increasing its annual handling capacity to 14 million standard containers, the Maritime and Port Authority of Singapore said in the report.
Singapore is one of the busiest container ports in the world.
The city-state's port operator PSA said in September that it had invested five billion Singapore dollars over the last 10 years to develop 26 berths at Pasir Panjang terminal by 2009.