15 Year Extension Approved for COSCO Shipping Ports
A 15 year extension has been granted for the current concession agreement between COSCO Shipping Ports (CSP) and the Port Authority of Zeebrugge in Belgium for the CSP Zeebrugge container terminal.
COSCO will now be able to continue to explore further investing of infrastructure at the port as the new concession period has been extended to December 31, 2055 with another option to extend if needed.
Zhang Dayu, managing director of COSCO Shipping Ports said, “This is inseparable from the close cooperation between the two parties. The signing of the contract to extend the franchise right to 2055 is of great significance to both parties.”