Wan Hai has obtained a TW$11 billion (US$340 million) loan from a syndicate of four Taiwanese banks to upgrade Terminal 5 in Kaohsiung Port.
Mega Bank is the lead lender with the syndicate comprising Land Bank of Taiwan, Bank of Taiwan and First Commercial Bank.
Wan Hai is taking over operations of Terminal 5 from Evergreen Marine Corporation, which shifted to Terminal 7.
The Taiwanese regional carrier’s upgrades will see Piers 79, 80 and 81 in Terminal 5 equipped with electric traction vehicles and electric forklifts to create an automated and environment-friendly facility.
It is expected that after the Taiwanese terminal reopens in 2026, the overall operating area will be doubled from the current one, and the future annual operating volume will reach 2 million TEUs.