Construction work on Saigon International Terminals Vietnam Limited (SITV) has started, officially kicking off a string of long-awaited port developments for Vietnam's economic master-plan.
The announcement was made by SITV joint venture partners Hutchison Port Holdings (HPH) and Saigon Investment Construction & Commerce Company Limited (SICC).
SITV is located in the industrial Cai Mep and Thi Vai districts of southern Vietnam's coastal Ba Ria-Vung Tau province. According to an initial master-plan for economic development, the Vietnamese government had already set aside this area for the construction of much-needed container facilities. SITV has been scheduled to be operational as early as 2010 with a total quay length of 730 metres and a harbour depth of 14 metres.
“SITV is an important addition to the HPH network of ports in Asia. We will continue to invest heavily in this project, and will commit significant resources to creating a world-class container handling facility with an international reputation for excellence,” said HPH managing director John Meredith.
Work on SITV is coming on the back of several other Vietnamese port projects which have been the integral part of a government initiative to spur national economic growth.
One of the 30 key national projects under a master plan for sea ports is the Vinalines-PetroVietnam joint venture to build the $637 million Ben Dinh-Sao Mai port complex also in the southern Ba Ria-Vung Tau province. Work on that project is scheduled to begin later this year. Another major project in the pipeline is the estimated $1.6 billion Lach Huyen port in the northern city of Hai Phong.
Vinalines is mulling an international partnership for that project and Belgium's port of Zeebrugge is expected to undertake construction.
Meanwhile, Japanese firm Penta-Ocean Construction Co Ltd has been contracted by operator SP-PSA to build the first phase of a multi-purpose deep-water port complex also at the Cai Mep-Thi Vai districts of Ba Ria-Vung Tau. This would be Ba Ria-Vung Tau's third major port project besides SITV and the Ben Dinh-Sao Mai port complex. 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, scheduled to be completed by 2009, will see initial construction of supporting port infrastructure, a 600-metre berth and a 27 hectares yard.
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.
The announcement was made by SITV joint venture partners Hutchison Port Holdings (HPH) and Saigon Investment Construction & Commerce Company Limited (SICC).
SITV is located in the industrial Cai Mep and Thi Vai districts of southern Vietnam's coastal Ba Ria-Vung Tau province. According to an initial master-plan for economic development, the Vietnamese government had already set aside this area for the construction of much-needed container facilities. SITV has been scheduled to be operational as early as 2010 with a total quay length of 730 metres and a harbour depth of 14 metres.
“SITV is an important addition to the HPH network of ports in Asia. We will continue to invest heavily in this project, and will commit significant resources to creating a world-class container handling facility with an international reputation for excellence,” said HPH managing director John Meredith.
Work on SITV is coming on the back of several other Vietnamese port projects which have been the integral part of a government initiative to spur national economic growth.
One of the 30 key national projects under a master plan for sea ports is the Vinalines-PetroVietnam joint venture to build the $637 million Ben Dinh-Sao Mai port complex also in the southern Ba Ria-Vung Tau province. Work on that project is scheduled to begin later this year. Another major project in the pipeline is the estimated $1.6 billion Lach Huyen port in the northern city of Hai Phong.
Vinalines is mulling an international partnership for that project and Belgium's port of Zeebrugge is expected to undertake construction.
Meanwhile, Japanese firm Penta-Ocean Construction Co Ltd has been contracted by operator SP-PSA to build the first phase of a multi-purpose deep-water port complex also at the Cai Mep-Thi Vai districts of Ba Ria-Vung Tau. This would be Ba Ria-Vung Tau's third major port project besides SITV and the Ben Dinh-Sao Mai port complex. 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, scheduled to be completed by 2009, will see initial construction of supporting port infrastructure, a 600-metre berth and a 27 hectares yard.
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.