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Leading container terminal operator, APM Terminals, has reached an agreement to take over the Skandia Container Terminal at the Port of Gothenburg. APM Terminals is due to roll out an investment programme totalling USD 115 million over the next five years.

"The Skandia Container Terminal has an unbeatable geographical location to serve industry throughout Scandinavia and the Baltic Region. Sweden is a major exporting country, has a manufacturing industry and the Swedish economy is growing. This is a good place to invest," said Martin Poulsen, CEO APM Terminals Europe Region.

Skandia Container Terminal is the largest container terminal in Scandinavia and has a 25-year concession agreement with the Port of Gothenburg Authority. Last year the terminal handled around 800,000 container units (TEU), which is equivalent to around 60 per cent of the Swedish market.

"This is a big day not only for Gothenburg but also for the whole of Swedish industry. With APM Terminals global network and experitise and a willingness to invest, the Port of Gothenburg will consolidate its role as the major international port in Sweden," stated Sven Hulterström, Chairman of the Port of Gothenburg.

Almost two years ago the port was divided into a municipal port authority and three separate terminal companies. The quays, land and infrastructure are still owned by the municipal authority whilst private companies handle the operational side. The container terminal is the third and final terminal to be transferred to an external operator.

APM Terminals is one of the top four global container terminal operators and currently has 60 container terminals in 33 countries, of which nine terminals are in Europe. The company is part of the AP Möller-Maersk Group.

In total, 13 bids were received from companies interested in taking over the terminal. A handfull were then selected for the final round before APM Terminals was chosen as the winning bid.

"In the end the clear choice was APM Terminals, submitting a bid which was of an exceptional standard in both qualitative and financial terms." the Port of Gothenburg said.

"APM Terminals shares our vision and has an impressive operational, marketing and investment plan. Their wholehearted investment in Skandia Container Terminal will benefit both the development of the port and the whole of Swedish trade and industry," commented Hulterström.

APM Terminals will invest in three Super post-Panamax, the world's largest cranes for loading and unloading container vessels. Other investments include expansion of the rail terminal and 10 new straddle carriers (large trucks used at ports to lift containers).

Hulterström said: "Good use will be made of the money. The City of Gothenburg is facing major investments, particularly related to the infrastucture, but also investments to continue the development of the Port of Gothenburg as the freight hub of Scandinavia."

Once the deal is officially approved by the competition authorities, APM Terminals will take over the Skandia Container Terminal, the 450 or so employees and all the company's assets and agreements.