North Inchon Port begins third berth

As a multipurpose wharf, the third berth will be built in the North Inchon Port for 50 thousand ton class vessels.
The Ministry of Maritime Affairs and Fisheries (MOMAF) announced on August 9 that the Dongbu Corporation had been chosen as operator for the project. The company will begin work at the end of this month, with the work scheduled for completion by the end of 2007.
Through this, the North Inchon Port will be 840m long, 14m deep and 3.3 million m2 of port grounds, and have the latest stevedoring equipment and cargo safekeeping facilities. MOMAF explained that this is the second private port business for Inchon Port.
The North Inchon Port will be able to handle 4 million tons of cargoes per year when finished.
Private port facilities are returned to the country the work is complete, but the contractor gets to collect fees from port users by managing and operating the port for a period of 50 years.
One insider from MOMAF said, "This is the largest scope of port development business," and added, "city traffic congestion will lessen due to dispersion of cargoes that have previously only been transported to the inner Port of Inchon."