SSA Marine, Vinalines and Quang Ninh Port have signed an Agreement In Principle to establish a joint venture company to develop and operate container terminals at Cai Lan Port, in Quang Ninh Province.The agreement paves the way for the parties to finalise a joint venture agreement to develop and operate berths 2,3 and 4 and to co-operate on other terminal operations as mutually agreed by the parties.
The cost of the project to develop the three berths is estimated at $100 million.
Having completed a feasibility study on the project, Vinalines, Quang Ninh Port and SSA Marine plan to file with the Licence Issuing Authority for their Investment Licence.
According to SSA Marine president & CEO Jon Hemingway, the growth of the manufacturing base in North Vietnam, through continually increasing foreign direct investment, warrants the development of additional container terminal capacity to keep pace.
Vinalines and SSA Marine also signed an Agreement in Principle to develop and operate logistics activities throughout Vietnam.
Carrix subsidiary SSA Marine is the largest US-owned and the largest privately-held container terminal operator and cargo handling company in the world. SSA Marine handles approximately 22 million TEU per year, and has port operations throughout the US as well as Panama, Mexico, Chile, Costa Rica, South Africa and New Zealand.
