Port operator APM Terminals has agreed to take over the Nordic region's biggest container terminal, in western Sweden, and to invest 800 million crowns ($120 million) in it over five years, the Port of Gothenburg said.

It said in a statement that APM Terminals had bought Skandia Container Terminal which has a 25-year concession agreement with the Port of Gothenburg for the operation of the terminal.

Gothenburg's port was in 2009 reorganised into one port authority and three terminal operators, of which the container one was the last to be auctioned.

APM Terminals Chief Executive Martin Poulsen said in the statement the terminal's location is ideal for serving industry in Scandinavia and the Baltic sea region, and a growing export-dependent economy made Sweden a good country to invest in. (Reuters)