SINGAPORE (Reuters) - Singapore on Wednesday announced a $1.1 billion plan to expand and modernise its port, one of the world's most important shipping hubs, but which is in fierce competition with several Chinese harbours including Shanghai, Shenzhen and Guangzhou.
The Maritime and Port Authority of Singapore (MPA) said it has awarded a project worth S$1.46 billion ($1.10 billion) for the second phase of its Tuas Terminal port development to a joint venture of firms, including Korea's Hyundai Engineering and Construction.
($1 = 1.3235 Singapore dollars)
(Reporting by Aradhana Aravindan and Henning Gloystein; Editing by Christian Schmollinger)
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