Macquarie Korea Infrastructure Fund

Busan New Port Phase 2-3

Assets

Busan New Port Phase 2-3

One of the national priority projects designed to meet future demand driven by Busan's position as a regional shipping and logistics hub.

Asset overview

Busan New Port Phase 2-3 ("BNP 2-3") is one of the five container terminals in operation at Busan New Port. Construction began in November 2007 and completed in November 2011 as originally scheduled. The terminal opened for commercial operation in January 2012 with annual handling capacity of 1.8 million Twenty-foot-Equivalent Units (TEUs). BNP 2-3 completed its capacity expansion to 2.5 million TEUs in May 2015, and further expansion plan to increase the capacity to 3.2 million TEUs by the target year of 2020 is under progress.


Investment details

MKIF has invested in BNCT Co., Ltd (“BNCT”), the concessionaire of Busan New Port Phase 2-3. As of the record date, MKIF is a 30.0% shareholder of BNCT, and MKIF’s total investment amount is KRW 259.4 billion (equity KRW 66.4 billion and subordinated loan KRW 193.0 billion).

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Concession agreement  
Government authority Ministry of Oceans and Fisheries
Concession term 28 years and 3 months
Concession term commencement December 2011
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Facilities  
Site area 840,000m2
Berthing facilities Four 50,000 ton berths
Capacity Annual handling capacity of 2.5 million TEUs (expansion plan to 3.2 million TEUs under progress)

Asset location