Singapore Firm Invests US$165Mln in Port Project in Southern Vietnam

The government of southern Ba Ria-Vung Tau province has agreed to allow SP-PSA International Port Co. Ltd of Singapore to invest US$165 million to build an international port on the Thi Vai River.

 

The SP-SPA International Port will be built at the Cai Mep estuary of the river in Tan Thanh district.

 

Upon its completion, the port will be capable of handling around two million TEUs (twenty-foot equivalent units) a year. Thi Vai-Cai Mep area is home to scores of deepwater port projects approved by the Prime Minister in May, 2005. Some 15 out of 20 projects are currently underway.

 

PSA is one of the world's top port operators, with 20 port facilities in 11 countries in Asia and Europe. PSA’s Singapore and foreign terminals handled record container volumes of 51.29 million TEUs in 2006, up 18.6 per cent over the previous year. (VNA)