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Vietnam approves Cai Mep jv

Vietnam approves Cai Mep jv

Hanoi: Port development in Vietnam has got a boost with Government approval
of a plan to develop the $160m Cai Mep International container terminal 120
km south-east of Ho Chi Minh City. According to Vietnam News Agency, the
terminal will have two berths totalling 600 metres capable of accommodating
vessels of 50-80,000 dwt. The terminal, near Vung Tao, is a joint venture
between the American SSA Holding International Vietnam Inc and Saigon Port.
The 1.35m teu a year facility is due to be commissioned in 2010. Saigon Port is also seeking government approval of two other major port developments. One, a joint venture with Denmark's AP Møller, envisages investment of $178m in a 950,000teu capacity facility also in the Cai Mep complex. The second venture, with Port of Singapore Authority will build a port downstream of Thi Vai International General Port at an initial cost of $165m. [11/10/06]

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