SINGAPORE—PSA International Pte, the world’s second-largest container port operator, will build its first terminal in the UK partnering International Port Holdings to gain access to Europe’s second-biggest economy.

The two companies will spend £30 million ($59 million) to build the container terminal at Great Yarmouth Port, PSA International said in an e-mailed release. The Singapore-based company will own 60 percent of the joint venture with International Port owning the remainder.

“Great Yarmouth Port offers the lowest transit times from the Northern European mainland,’’ Pierre Timmermans, PSA’s chief executive officer in Europe, said in the statement. “By starting a short-sea container terminal in this port, we can offer our customers a fast, congestion-free entry to the UK hinterland.’’

The agreement gives PSA International access in UK, adding to the 25 other port projects the company has in 14 countries. The Singapore company said in March it will develop and operate four container terminals in India, Panama and Turkey, as it expands overseas to tap rising world trade.

The joint venture will operate a short-sea container terminal at the Norfolk, England-based Great Yarmouth, a port that serves the Southern North Sea oil and gas industry. The terminal will be for container traffic between Britain and the northern European mainland, the companies said in a statement late Tuesday.

PSA International and its partner have been granted rights to operate the terminal for 30 years, with an option to extend for another 30, the companies said. The investment is for the first phase of the project.

--Bloomberg

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SINGAPORE—PSA International Pte, the world’s second-largest container port operator, will build its first terminal in the UK partnering International Port Holdings to gain access to Europe’s second-biggest economy.