SINGAPORE is spending $2 billion to expand its port, a move that will increase annual capacity by more than 50 per cent.
The project, in anticipation of continued growth in global sea trade, will involve the building of 16 berths in Pasir Panjang.
These will have an annual handling capacity of 14 million standard containers.
Singapore currently has 49 berths serving container ships which can handle up to 26.1 million twenty-foot-equivalent units (TEUs).
Work on the expansion began in October and is expected to be completed by 2013.
The Government has also taken extra steps to minimise the ecological impact of the project.
It has spent more than $20 million engaging experts to conduct studies on how the port expansion may affect corals around Labrador Park and has even moved some that would have been hit by the project.
'PSA Singapore Terminals continues to experience strong growth in its container volumes and we expect to handle 27 million TEUs this year,' said a Port of Singapore Authority spokesman.
'We have already fast-tracked our development of Pasir Panjang Terminal Phase 2. The development of Phases 3 and 4 is therefore timely.'