The extension of the programme will see development of new technologies for Singapore’s container terminal operations.
Under the deal, MPA will fund the programme with SGD15m ($11.97m) over five years from the Maritime Innovation and Technology (MINT) Fund, while PSA will provide another $11.97m within the same period.
Total funding for the programme, along with the initial SGD20m ($15.9m), reaches SGD50m ($39.9m).
Of the total investment, the initial $15.9m is being used towards research and test-bedding projects on AGV systems, yard crane automation and wharf automation.
The latest investment will be used to develop technologies for port automation, intelligent planning and control systems, and green port solutions.
The programme will also explore relevant concepts inspired by the Next Generation Container Port Challenge in 2012.
MPA CEO Andrew Tan said: "With growing demands on ports to accommodate ever larger ships and growing amounts of cargo, it is imperative that we leverage on new technologies to increase our port efficiency and productivity.
"Through co-funding of such R&D efforts, we hope to see the adoption of new systems and technologies that will significantly enhance the competitiveness of Singapore as a global transhipment hub and bring benefits to the rest of the industry."
PSA South East Asia international regional CEO Tan Puay Hin said: "PSA is pleased to continue this partnership with MPA, as we gear up for the development of the future terminals at Pasir Panjang phases 3 and 4, as well as Tuas.
"The innovative technologies developed under the programme will transform our terminal operations, and take our productivity and process efficiency to new heights."