The Maritime and Port Authority today signed a $2.42 billion contract for the construction of Tuas Terminal Phase 1.
The deal was signed with Dredging International Asia Pacific – Daelim Joint Venture and include dredging of the waters, construction of wharfs and reclamation of 294 hectares of land.
Singapore will be consolidating its container port activities at Tuas in the long term to meet the future demands of container shipping.
When completed, it will have the capacity to handle 65 million twenty-foot equivalent units (TEUs) per annum, almost double the throughput handled by the Port of Singapore in 2014.
Tuas was chosen for its sheltered deep waters and proximity to major industrial areas and international shipping routes.