The Ministry of Planning and Investment has awarded an investment certificate to a US$160-million American-Vietnamese joint venture to develop a container terminal in the southern province of Ba Ria-Vung Tau.
The venture involving SSA Holding International Vietnam, Inc. of the U.S. and Vietnam's Saigon Port has a licensed period of 50 years for the Cai Mep International Container Port covering 605,500 square meters in the province, 120 km southeast of HCMC.
Prime Minister Nguyen Tan Dung earlier gave the nod to a proposal on the establishment of the venture sent by the Ministry of Planning and Investment.
The terminal will be able to accommodate ships of 50,000-80,000 DWT, and its piers can handle 1.35 million TEUs a year.
The design for the project, which is part of the Cai Mep-Thi Vai port complex in Ba Ria-Vung Tau, is scheduled for this year and construction and equipment procurement in 2007-09. The terminal will be commissioned by 2010.
In the first 10 years of operations, the venture will pay a corporate income tax of 20% and 28% thereafter.
Apart from this project, Saigon Port last month submitted proposals for estab-lishing joint venture ports with Denmark's Maersk A/S and Port of Singapore Authority (PSA) to the Ministry of Planning and Investment.
Source: MINH HIEU - SGT-HANOI - 9 Oct 2006