14:47 | 22/09/2016 Economy- Society
Vietnam’s privately-owned International Transportation and Trading JSC (ITC) put the first phase of its US$200-million international container terminal into operation in Ho Chi Minh City, on September 18.
Delegates at the ceremony to open the first phase of the international container terminal in Ho Chi Minh City on September 18
The inauguration ceremony was attended by Politburo member and Standing Deputy Prime Minister Truong Hoa Binh.
The terminal is located in an area surrounded by several industrial parks in the city and the neighboring provinces of Binh Duong and Dong Nai. It will help reduce overloading at Cat Lai Terminal in Ho Chi Minh City’s District 2.
The first 20-hectare phase of the port terminal project, which commenced construction in 2010, is able to handle vessels of up to 35,000 DWT.
ITC is preparing for the construction of the second phase which will see the terminal expand to 48 hectares. Its main quay is 1,000m long and designed to handle 2 million twenty-foot-equivalent units (TEUs) per year.
It is the first terminal to be invested in by a private firm in Vietnam.
Vietnam is looking to build a network of port terminals to take advantage of its long coastline and serve the import and export operations of its growing economy./.