SP-PSA to build deep-water port in Vietnam
Japanese firm Penta-Ocean Construction Co Ltd on Tuesday signed a contract with operator SP-PSA to build the first phase of a multi-purpose deep-water port complex at Cai Mep-Thi Vai in the southern province of Ba Ria-Vung Tau, Vietnam.
SP-PSA is a joint venture between state-owned Saigon Port and Singapore's PSA International Pte. Ltd.
According to the contract, the $165 million first phase project will see initial construction of supporting port infrastructure, a 600-metre berth and a 27 hectares yard.
SP-PSA chairman Le Cong Minh said that many shipping lines, shippers and port stakeholders had been waiting eagerly for the completion of new deep-water container terminals in Vietnam.
“Hence SP-PSA and the chosen contractor will work harder to complete construction and put the first phase of the port into operation by 2009,” he said.
The SP-PSA run port will be able to handle large cargo vessels and will be connected to Ho Chi Minh city and the rest of the southern Vietnamese hinterland by road and inland waterways.
Speaking at the signing ceremony Penta's general manager Eiichi Oishi said that Penta was “delighted to win this major contract and participate in a key project of the master plan for rapid infrastructure and economic development in southern Vietnam.”
The second phase development of the port has been estimated at $133 million and is scheduled to be completed in 2017.
Reports say that when both phases of the development project are fully operational, the port will be able to handle up to two million twenty-foot equivalent units (TEUs) per year.
SP-PSA is a joint venture between state-owned Saigon Port and Singapore's PSA International Pte. Ltd.
According to the contract, the $165 million first phase project will see initial construction of supporting port infrastructure, a 600-metre berth and a 27 hectares yard.
SP-PSA chairman Le Cong Minh said that many shipping lines, shippers and port stakeholders had been waiting eagerly for the completion of new deep-water container terminals in Vietnam.
“Hence SP-PSA and the chosen contractor will work harder to complete construction and put the first phase of the port into operation by 2009,” he said.
The SP-PSA run port will be able to handle large cargo vessels and will be connected to Ho Chi Minh city and the rest of the southern Vietnamese hinterland by road and inland waterways.
Speaking at the signing ceremony Penta's general manager Eiichi Oishi said that Penta was “delighted to win this major contract and participate in a key project of the master plan for rapid infrastructure and economic development in southern Vietnam.”
The second phase development of the port has been estimated at $133 million and is scheduled to be completed in 2017.
Reports say that when both phases of the development project are fully operational, the port will be able to handle up to two million twenty-foot equivalent units (TEUs) per year.