A subsidiary of PSA International has agreed to acquire stakes in a new container terminal company in Lianyungang Port in Jiangsu Province, China.

The joint venture between PSA and Lianyungang Port Group will take over the container terminal project from China Shipping Container Lines following completion of the deal, which is subject to regulatory approval.

The container terminal marks PSA's first major foray into the Yangtze River Delta region - one of the most important economic regions in China linking many key cities, PSA said in a statement.

The terminal is poised to support the container trade originating from the hinterland of Shandong and Jiangsu, China's second and third largest economic provinces respectively, and connecting it to the shipping routes linking China with Europe, the Americas and the rest of Asia.