PSA Corporation (PSA) has begun the development of S$20bn ($14.5bn) Tuas Port project in Singapore.

The groundbreaking ceremony was attended by the Prime Minister of Singapore Lee Hsien Loong.

The new port will become fully operational by 2040. The first port berths are expected to commence operations in 2021.

The Tuas Port will almost double Singapore’s port capacity from 36 million twenty-foot equivalent unit (TEU) to 65 million TEU a year.

Featuring 26km of deepwater berths, the mega port will be gradually developed in four phases. It will be designed to handle mega-vessels, mega-alliances and mega-networks to meet future demands.

New technologies such as intelligent data-driven operations management systems, automated wharf and yard operations, as well as complete electric automated guided vehicles will be deployed at the port to improve its efficiency and productivity.

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PSA International Group chairman Peter Voser said: “Tuas is an opportunity for us to reinvigorate and reimagine.

“By venturing beyond the physical port into complementary logistics capabilities and integrated digital systems, PSA will take the lead in transforming the industry to better deliver holistic cargo solutions for our customers and promote greater supply chain efficiency.

“The integrated Tuas ecosystem sets the stage for Singapore to not only consolidate our position as the world’s largest transhipment hub but also reinvent ourselves as a leading global supply chain and logistics centre.”

PSA will transfer all businesses from its Tanjong Pagar, Keppel and Brani facilities to Tuas Port by 2027. By 2040, Pasir Panjang Terminals will be consolidated at Tuas Port.