Ho Chi Minh City: Vietnam's leading port operator, Saigon Port, has requested government approval for two new joint ventures, with APM Terminals and PSA, to build large ports in the province of Ba Ria?"Vung Tau, some 125km south of Ho Chi Minh City.
To be located upstream of the Cai Mep International Container Port, the jv with APM Terminals will cost $187m in investment capital for the construction of two wharves, says Saigon Port, which will have capacity of some 950,000teu.
APM Terminals confirms the plan and adds that Cap Mei is ideally situated one hour steaming time from the main shipping lane, offering 14 metres draught. Construction of the terminal is scheduled to begin later this year, it says, with opening scheduled for mid-2009.
Meanwhile, the jv port with PSA, to be located downstream from the Thi Vai International General Port, would cost $165m for the first phase to 2010, and $133m for the second phase until 2017. Four wharves would be built in two stages to give an eventual throughput capacity of 1.5m teu. PSA has yet to confirm its participation.
Saigon Port says it will hold 51% of the capital in both projects, which form part of the government's plan to relocate ports away from the urban area of Ho Chi Minh City to less confined areas. Thi Vai River, able to accommodate ships up to 80,000dwt, is seen as ideal for the development of large new ports.
Saigon Ports, leading member of the Vietnam Seaports Association (VPA), currently employs some 4,000 employees and operates five terminals in the Ho Chi Minh City and Mekong Delta areas.
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