Selection of BNOT as Preferred Bidder for Busan Newport Feeder·General Cargo Terminal

 

- To designate the project operator and establish an implementation plan following a qualification investigation, and to begin construction in 2029

 

- Expected to create synergistic effects by linking the strengthening of the competitiveness of Busan Newport and the development of Jinhae New Port

 

 The Ministry of Oceans and Fisheries (MOF) announced on Wednesday, July 16 that it selected BNOT (Busan Newport One-stop Terminal) as the preferred bidder for the Busan New Port Feeder/General Goods project under private investment.

 

 The Busan Newport Feeder/General Cargo Terminal is the first public-private collaboration project in the port sector implemented through private investment in site-specific competitive bidding via public-private collaboration. This innovative approach solicits creative ideas from the private sector to complement policy objectives. In the competitive bidding held by MOF for three months from March 17 to June 16, BNOT was the only applicant to submit a proposal. Following a two-day review by external experts starting July 10, the company was selected as the preferred bidder for negotiations.

 

 BNOT submitted a proposal to invest about KRW 800 billion in developing and operating two 2,000-TEU feeder berths and one 30,000-DWT general cargo berth on 360,000 square meters of land on the west side of Busan New Port South Container Terminal. The proposal will be supplemented through negotiations with MOF and will be subject to a qualification review by the Korea Development Institute (KDI). If the proposal passes the qualification review, a project operator will be designated following public notification, and the designated operator will prepare an implementation plan targeting commencement of construction in 2029.

 

 There are 18 terminals* that have been developed and which are operating nationwide with private investment. The Busan Newport Feeder·General Cargo Terminal will be the fifth pier developed in Busan Newport with private investment, following three container piers in operation (Stage 1-2, Stage 2-3, Stage 2-4) and grain terminal that began construction at the end of last year.

 

 * Busan 4, Pyeongtaek-Dangjin 2, Mokpo 2, Ulsan 1, Masan 1, Pohang 1, Gunsan 2, Gwangyang 1, and Incheon 4

 

 The development of the Feeder/General Cargo Terminal at Busan Newport is expected to strengthen sea & air logistics competitiveness in connection with the new Gadeokdo Airport, enhance the transshipment competitiveness of Busan Port by handling small feeder volumes, and create synergistic effects through linkage with the Jinhae New Port scheduled to open in 2029.

 

 “We will actively support the development of the feeder · general cargo terminal at Busan Newport to strengthen the port’s competitiveness and improve the quality of port services through connections with Gadeokdo New Airport and Jinhae New Port,” Deputy Minister of Oceans and Fisheries Kim Seong-beom said.