Singapore's PSA signs deal to manage Cuban port

Singapore port operator PSA International said it has signed an agreement to run a new terminal in Cuba. "PSA has signed a contract with Terminal de Contenedores de Marial S.A. to manage a new container terminal to be constructed at Mariel Bay," a spokesman for the port operator told AFP on Friday. No further details about the deal were released. Press reports said the terminal, currently under construction, will have the capacity to handle 850,000 to one million containers annually when it is completed by 2014. PSA International, wholly-owned by state investment firm Temasek Holdings, is among the largest port operators globally with involvement in 29 projects across 17 countries. For the year ended December 2010, PSA handled 65.12 million twenty-foot equivalent units of containers worldwide.