Hutchison Port Builds International Terminal in Vietnam

The Saigon International Terminals Viet Nam (SITV), a joint venture of Saigon Investment, Construction and Trade Company and the Hutchison Ports Mekong Investment S.A.R.L, broke the ground on an international port in Phu My town, Tan Thanh district in southern coastal Ba Ria Vung Tau province on August 9.

 

The US$267 million seaport will primarily be used as an import-export hub.

 

The port will house three wharfs capable of handling ships up to 70,000 tons and has an annual designed capacity of 1.1 million TEUs.

 

The port is slated to be completed by 2010.

 

Vietnam is now developing more seaports and infrastructure networks to attract more foreign investments and boost its economic development to become an industrialized nation by 2020 and medium earner by 2010. (VNA, Youth)