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CMG, Vinalines to build Vietnam container port

¡¡¡¡Vietnam National Shipping Lines (Vinalines) and the China Merchants Group Ltd (CMG) have recently signed an agreement to establish a joint venture to build a container port in the southern Vietnamese province of Ba Ria-Vung Tau.
¡¡¡¡The new container port will be developed at an estimated cost of USD300 million and will cover a total port area of 166 hectares.
¡¡¡¡Work will commence next year and be completed in 2011 when the port will be able to receive ships of 80,000 TEU.
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