A groundbreaking ceremony was held today to mark the start of construction on a container terminal in Vietnam's Vung Tau province.
SP-PSA International Port is a joint venture between Saigon Port, Vietnam National Shipping Lines (Vinalines) and PSA Vietnam, a wholly owned subsidiary of Singapore-based PSA International.
The terminal, located near the mouth of the Cai Mep-Thi Vai River, will be developed in two phases, with the first one becoming operational in 2009. When fully completed, SP-PSA will have a projected annual capacity of more than 2 million TEUs.