APMT to invest $500m in port of NY and NJ
Agreement includes ‘major investment and capacity enhancements’ at APMT’s container terminal, port authority says
Maersk’s terminal unit APM Terminals has reached an agreement with the Port of New York and New Jersey to extend its lease by 33 years to December 2062. The proposed deal, which will also see APM invest $500m in upgrades to its terminal, is subject to a vote by the Port Authority Board of Commissioners on Thursday