Danish oil and shipping group A.P. Moeller-Maersk said on Tuesday its subsidiary APM Terminals would build a container terminal in Portsmouth, Virginia in the United States.
"Our present terminal in Portsmouth, Virginia has been operating at near full capacity for several years. We have no room for expansion, so it was necessary to look elsewhere for a site capable of meeting our future goals," Maersk said in a statement.
Dredging is expected to start later this year, and construction of the terminal and its 1,200 meters of berth space is expected to be completed in 2007, the company said.
APM Terminals is the third largest container terminal operator in the world. Maersk owns the world's biggest container line Maersk-Sealand.