Inchon Northern harbor signs on construction

The Ministry of Maritime Affairs and Fisheries contracted to develop the Inchon Northern harbor as multi-purpose one.

Inchon Regional Maritime Affairs and Fisheries revealed that it inked on Inchon Northern harbor construction with the Dongbu Inchon Harbor Corp., Feb. 18 in the morning.

Dongbu Inchon Harbor is planning create harbor space of 100,000 pyoung and three berths with 189.6 billion won (including 57.1 billion won of government funding) by the end of 2007 with construction starting this coming June. If the northern harbor is completed, it will belong to the state and Dongbu Inchon Harbor will manage it for 50 years while collecting usage fees from port users.

The northern harbor is expected to solve regularly occurring detentions and cargo congestion in the port as it is scheduled to handle timber and general cargoes as much as 4 million tons annually and will be equipped with up-to-date stevedoring facilities and warehouses.

The Inchon agency has a plan to build a total of 18 berths in the Northern harbor by 2011 with 916.5 billion won, including the Dongbu project.