Vietnam port commissions deep-water facility

A southern Vietnamese port authority commissioned Japanese company Penta-Ocean Monday to build a US$165 million deep-water port.

The Cai Mep-Thi Vai port in Ba Ria-Vung Tau province, built for SP-PSA International Port Co. Ltd. - a joint venture between Saigon Port and PSA Vietnam Pte Ltd - will be located near the mouth of the Cai Mep-Thi Vai river and equipped to handle large vessels.

It will be connected by road and inland waterway with Ho Chi Minh City.

The terminal will be developed in two phases, with the first phase becoming operational in 2009. When fully finished, the terminal will have an annual capacity of 2 million TEUs (twenty-foot equivalent units).