Gemadept to build $410m Vietnam container port

Hanoi: Leading Vietnamese forwarder Gemadept Corporation has confirmed that it is to begin construction of a deep-water container port worth $410m in the southern province of Ba Ria-Vung Tau next year, reports Reuters. The Cai Mep port, to be completed by 2010 will have a depth of 16mtr and is expected to serve as a transhipment hub that will attract traffic currently being served in Singapore, Taiwan or Hong Kong, particularly from the US.

Gemadept is currently building two ports in which it holds a 55% stake  - at Dung Quat (at a cost of $36m) and at Nhon Hoi (at a cost of $230m).  [31/08/07]