[290113.EN.SEA] Antwerp Builds 500 x 68-metre Lock On River Scheldt - World's Biggest

BELGIUM is building the world's biggest lock - as wide as a 19-lane highway - ready to dock the latest generation of mega ships, reports Reuters.

With three times as much steel as the Eiffel Tower, 500 metres long and 68 metres wide, the EUR340 million (US$457.6 million) lock will be one of the gates to the Port of Antwerp on the River Scheldt to be completed in 2016.

At the construction site, 30 huge dump trucks moved enough earth away enough to fill London's Wembley Stadium eightfold.

A century ago, Antwerp could handle the Titanic, the largest ship of its time. But as ships grow in size and the Panama Canal plans to triple present capacity in 2015, Antwerp must grow to get the mega ship trade.

The financially-troubled EU is on the hunt for economic growth through global trade following the collapse of the 10-year Doha round of global trade talks. The EU hopes to start negotiations in 2013 towards free-trade accords with the United States and Japan.

European Union legislators approved free-trade accords with Colombia, Peru and six Central American nations in December and also wrapped up trade talks with Singapore. A deal with Canada is expected to be finalised early this year and a more limited investment pact with China is a possibility.

If the EU successfully completes its trade talks, the 27-nation bloc will add two per cent to its economic output, or EUR275 billion, according to officials.

Source : HKSG, 29.01.13.