Work starts on new Vietnam container terminal
Construction started today on a new box terminal in Vietnam's Ba Ria Vung Tau Province jointly owned by Hutchison Port Holdings (HPH) and Saigon Investment Construction & Commerce Company Ltd.
The joint venture, the Saigon International Terminals Vietnam Ltd., will develop the terminal on a greenfield site that has road links to manufacturing centers and is close to the Phu My Power Plant.
SITV has a 50-year concession for the terminal, which is expected to open in 2011 with a quay length of 730 meters (2,395 feet), a depth alongside of 14 meters (46 feet) and a total yard area of 33 hectares.
“HPH supports the Vietnamese government's vision of pursuing economic prosperity by investing in the country's port infrastructure,” said John Meredith, group managing director of HPH, the world's largest container terminal operator.
