Hutchison Port Holdings (HPH) and joint venture partner Saigon Investment Construction & Commerce (SICC) have announced that construction work for Saigon International Terminals Vietnam (SITV) has begun.
HPH and SICC, a major Vietnamese construction and real estate company, expect SITV to come on stream in 2010. The container-handling facility will have a total quay length of 730 metres, dredged to a depth alongside of 14 metres, and a total yard area of 33 hectares.
SITV is located in the industrial Cai Mep and Thi Vai districts of Ba Ria Vung Tau Province, an area especially designated by the Vietnamese government for the development of much needed container handling facilities.
Linked by a national highway, SITV is located approximately 75 km from the Ho Chi Minh City hinterland, home to many industrial areas in Vietnam, and the new terminal will facilitate the movement of cargo to and from this hinterland. The terminal is in close proximity to the Phu My Power Plant, a major utility plant in the area.
HPH Group managing director John Meredith said that HPH supports the Vietnamese government’s vision of pursuing economic prosperity by investing in the country’s port infrastructure, as well as in other strategically important projects.
He added that SITV is an important addition to the HPH network of ports in Asia, and the company will continue to invest heavily in this project, committing significant resources to creating a world-class container handling facility.