Joint venture to develop Vietnamese port

The total project cost of developing the three berths is estimated at US$100m. The three companies have completed a feasibility study on the project and will soon file for an investment license with the issuing authority.

“The growth of the manufacturing base in North Vietnam, through continually increasing foreign direct investment, warrants the development of additional container terminal capacity to keep pace,” said Jon Hemingway, CEO and president of SSA Marine, which is a subsidiary of US-owned Carrix Inc.

Vinalines and SSA Marine have also signed an agreement in principle to develop and operate logistics operations throughout Vietnam. “SSA Marine and Vinalines, as partners, have a common goal to provide world-class container handling services throughout Vietnam, be it marine terminals, rail ramps, off-dock yards or other operations. We intend to help Vietnam meet its logistics needs in order to keep pace with its dramatic economic growth,” said Duong Chi Dzung, CEO of Vinalines.