Korean steel giant to build Vietnamese container terminal

Korean steel giant to build Vietnamese container terminal    The construction unit of South Korean steel giant POSCO Co. said it has signed an agreement to build a container terminal at the new Vung Tau deepwater port in the south of Vietnam.
   POSCO Engineering & Construction Co. said the deal was worth $112 million to build a terminal that's expected to handle 1.15 million TEUs a year, SeaTrade Asia reported. Vung Tau is roughly 80 miles from Ho Chi Minh City and is projected to become the key ocean-shipping gateway into the country when it's finished in 2010-2011. POSCO said it will break ground on the terminal in May with a scheduled completion date in 2011.
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