AP Moller Maersk’s port division is closing in on a DKK 3bn ($507.9m) deal to construct a new container terminal in China, a spokesman said Wednesday.

Michael Christian Storgaard told Danish broadcaster TV2 News that APM Terminals will likely shed light on the location later this week during Chinese President Hu Jintao’s diplomatic visit to Denmark.

The leader is scheduled to arrive in Copenhagen on 14 June and depart two days later.