The Port of Rotterdam Authority in the Netherlands will invest €175m ($209m) to widen the berthing area of Amazonehaven seaport.
The port will be widened from 255m to 305m, enabling it to accommodate large container vessels.
The work is scheduled to begin in 2011.
Europe Container terminals and European Dry Bulk Terminals have given up 23ha for the project and will relocate some of its operations to Hartelstrook.
The Port of Rotterdam Authority said the terminal will have a rail link and that licensing procedures will begin shortly.