Vinalines, Chinese group set up sea port JV

A container port which will cover an area of 166 ha will be built in the southern province of Ba Ria-Vung Tau at an estimated cost of 300 million USD.

To this effect, the Vietnam National Shipping Lines (Vinalines) and the China Merchants Group Ltd. (CMG) have signed a contract to set up a joint venture company.

They planned to start the construction work in 2009 and finish it in 2011. The port will be able to receive 80,000 DWT ships.

Earlier, Vinalines and CMG had reached an agreement with the China Development Bank on credit granting to carry out the project.

VNA

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