Vietnam terminal gets loan for expansion

Cai Lan International Container Terminal (CICT) in Vietnam has entered into loan agreements worth US$100 million with an international lending consortium, reported Thai News Service.

The financing will allow CICT to immediately move forward on the construction of its new state-of-the-art deep-water container facility in the northern province of Quang Ninh. It will support Hanoi and the northern market.

"North Vietnam's container volume is growing at over 20 per cent per year and by 2011 it will surpass terminal capacity. We need CICT as quickly as we can build it just to keep pace," said CICT chairman Le Trieu Thanh.
(Source:www.cargonewsasia.com)