Cai Lan International Container Terminal, a joint venture between Cai Lan Port Investment Joint Stock Company and Carrix, entered into a loan agreement with a consortium of lenders and plans to move forward with construction of a deepwater container terminal in northern Vietnam.
The joint venture between the Vietnamese company and Carrix, the parent company of SSA Marine in Seattle, intends to begin construction of the container terminal in November, with completion scheduled for late 2011.
The terminal will serve Hanoi and northern Vietnam. It will have an annual capacity of 510,000 20-foot equivalent units, with future build-out to 1.2 million TEUs per year. The facility will be able to accommodate vessels of 3,000 to 4,000-TEU capacity.
The joint venture secured financing of $100 million for the project. Vietnam’s container volume is growing at more than 20 percent a year. “CICT is needed as quickly as we can build it just to keep pace,” said Le Trieu Thanh, CICT chairman.
The joint venture between the Vietnamese company and Carrix, the parent company of SSA Marine in Seattle, intends to begin construction of the container terminal in November, with completion scheduled for late 2011.
The terminal will serve Hanoi and northern Vietnam. It will have an annual capacity of 510,000 20-foot equivalent units, with future build-out to 1.2 million TEUs per year. The facility will be able to accommodate vessels of 3,000 to 4,000-TEU capacity.
The joint venture secured financing of $100 million for the project. Vietnam’s container volume is growing at more than 20 percent a year. “CICT is needed as quickly as we can build it just to keep pace,” said Le Trieu Thanh, CICT chairman.