Thursday 8 January 09 - 18:28
 

News Asia

HPH seals Vietnam deal

Kong Kong’s Hutchison Port Holdings (HPH) is to jointly construct, develop and operate a new container terminal in Vietnam under a 50-year concession. 

The multinational port investor entered into an agreement with Saigon Investment Construction & Commerce Company in February to develop the terminal through a new joint-venture company, Saigon International Terminals Vietnam (SITV).

Expected to be fully operational in 2011, the terminal will have a quay length of 730 metres, with depth alongside of 14 metres and a total yard area of 33 hectares. John Meredith,HPH group managing director, commented: “HPH fully intends to participate in the country’s port development opportunities that have arisen following Vietnam’s accession to the WTO and the resulting demand for advanced container-handling facilities.”

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