APM Terminals has signed a joint venture agreement with Pharung Shipyard Co., a division of the Vietnamese state-run Vinashin Group, to develop and operate a container terminal in Vietnam's Dinh Vu Industrial Zone.
Construction of the planned 630-meter berth and 24-hectare (60 acre) terminal is scheduled to begin later this year with start of operations expected in late 2010. The Dinh Vu terminal will serve the Vietnamese capital of Hanoi, and the Red River Delta region of Northern Vietnam.
APM Terminals, part of Denmark's A.P. Moller - Maersk Group, is already building a 1.1 million-TEU capacity terminal in the Ba Ria-Vung Tau Province in the South of Vietnam in partnership with Saigon Port and Vinalines. Construction of Cai Mep International Terminal (CMIT) started in May with opening planned for the fourth quarter of 2010.
“We are delighted, following the successful start of construction of CMIT, to now establish our next terminal project in this high growth country," said Martin Gaard Christiansen, APM Terminals’ vice president for Asia. "The development of the facility in Dinh Vu will help meet the demand for modern, efficient port and intermodal facilities for the growing and increasingly important role of Vietnam in the global economy. We see excellent partners in the Pharung Shipyard Co. and the Vinashin Group to achieve this goal.”
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