Hutchison Port Holdings (HPH) has signed a joint-venture agreement to build and operate a container terminal in Ba Ria-Vung Tau, Vietnam, The Standard reported.
HPH, the ports unit of Hong Kong listed Hutchison Whampoa, will develop the terminal via the venture, which includes Saigon International Terminals Vietnam, the Hong Kong based newspaper said.
The company did not disclose the level of its investment in the project but did say it will hold a majority stake in the joint venture, the report said.
The container terminal is due to start operations in 2011.
