Vietnam-Denmark JV StartsUS$250-MlnPort in Southern Vietnam
Cai Mep International Terminal Company, a Vietnam-Denmark joint venture, May 28 began construction on a US$250-million international container port in southern Ba Ria-Vung Tau province, said the company CEO Bui Van Trung.
Trung said, the Cai Mep container port, to be built over 48 hectares on the Cai Mep river, is designed to have an annual capacity of 1.1 million TEUs.
Once operational by the end of 2010, the terminal will able to serve up to 160,000-ton vessels, he added.
He also said two South Korean contractors, Posco and Samwhan, have won the contract to design and carry out the port.
The Cai Mep International Terminal Company is a joint venture between the Vietnam Shipping Lines Corp (Vinalines), Saigon Port and Denmark’s APM Terminals Grou
Vietnam is now home to some 260 seaports handling more than 80 per cent of the total imports and exports. Nine ports could be upgraded to handle 50,000 DWT cargo ships or 3,000 TEU container ships.
The Southeast-Asian country is estimated to need US$5 billion to build and upgrade its seaport systems from now to 2010, aiming to handle 250 million tons of cargo in 2010 and 550 million tons in 2020. (The People, Young People)
Vietnamese
