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Thu 23 Oct 2008 06:03 PM

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APM launches second Vietnam terminal

APM Terminals and Pharung Shipyard Company have entered into a joint venture agreement to develop a container terminal in the Dinh Vu Industrial Zone.

Executives from APM Terminals and Pharung Shipyard Company have entered into a joint venture agreement to develop and operate a new container terminal in the Dinh Vu Industrial Zone, serving the Vietnamese capital of Hanoi and the Red River Delta region of northern Vietnam.

Operations at the new facility, which is the second in APM Terminals' global terminal network in Vietnam, is scheduled to commence in late 2010, with construction of the planned 24 hectare (60 acre) terminal set to begin later on this year.

"We are of course absolutely delighted to establish Cai Mep International Terminal (CMIT) in the south of Vietnam as our next terminal project in this very high-growth country," announced Martin Gaard Christiansen, APM Terminals' vice president for the Asia region.

"The development of the facility in Dinh Vu will help to 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 Pharung Shipyard Company to achieve this goal," he added.

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