PSA moving into Vietnam with joint venture terminal project
SP-PSA International Port Co. Ltd., a joint venture between Saigon Port and PSA Vietnam Pte Ltd., has been granted an investment license to develop a new container port project in the Vung Tau province in Vietnam.
PSA Vietnam is a wholly owned subsidiary of Singapore-based global terminal operator PSA International Pte Ltd.
The new terminal will be located near the mouth of the Cai Mep-Thi Vai River, and will have a projected annual capacity of 2 million TEUs when the first of its two-phase development becomes operational in 2009.
Kuah Boon Wee, PSA International's chief executive officer, Southeast Asia and Singapore terminals, said: 'This is PSA's first port project in Vietnam and we are delighted to partner Saigon Port who has extensive knowledge of the shipping and transportation logistics environment in Vietnam.'
PSA moving into Vietnam with joint venture terminal project
