Port and shipping companies ECT and P&O Nedlloyd said on Tuesday they had agreed to develop a new container terminal in Rotterdam.
The joint venture will be called EuroMax and will be operational in the beginning of 2004, adjacent to Rotterdam's MOT crude oil terminal.
The initial capacity will be about 1.7 million, 20 teu moves per year and total investment will be approximately $194.3 million. At a later stage, the terminal will be extended to a capacity of at least 2.4 million TEU moves per year.