Build contract signed for new Vietnam box terminal
Construction is set to start on a new Vietnam container terminal, Cai Mep International Terminal, following the award of a $112 million contract to a joint venture between major Korean contractors, POSCO EC and Samwhan Corp.
The terminal, due to open in late 2010, will be located in the Ba Ria-Vung Tau province southeast of Ho Chi Minh City, and will offer shipping lines direct access to and from the main shipping markets in Asia, Europe and Americas. A draft of 14 meters will enable larger vessels to call at the port.
Cai Mep International Terminal Co. Ltd. was established in January 2007 as a joint venture between the state-owned Saigon Port, Vietnam National Shipping Line (Vinalines) and APM Terminals, part of the Danish A.P. Moller – Maersk Group.