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.”
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).