SSA Marine partners with two Vietnamese parties in port development

SSA Marine partners with two Vietnamese parties in port development    Vinalines, Quang Ninh Port and SSA Marine have signed an agreement in principle to establish a joint venture company to develop and operate container terminals at Cai Lan Port, in Vietnam’s Quang Ninh province, SSA said Tuesday.
   The agreement sets the stage for the parties to finalize a joint venture agreement to develop and operate berths 2, 3 and 4 and to cooperate on other terminal operations. The development of the three berths is estimated to cost $100 million. The three parties have completed a feasibility study on the project and will soon file for an investment license with the Vietnamese government.
   “The growth of the manufacturing base in North Vietnam, through continually increasing foreign direct investment, warrants the development of additional container terminal capacity to keep pace”, said Jon Hemingway, SSA president and chief executive officer, in a statement.
   Vinalines and SSA Marine also signed an agreement to develop and operate logistics operations throughout Vietnam.