Posco Engineering & Construction Co., a construction unit of South Korea's leading steelmaker POSCO Co., said it had clinched a $112m preliminary deal to build an international container terminal in southern Vietnam.
The container terminal, expected to process 1.15m 20-ft. containers a year, will be built in Vung Tau, 125 kilometers south of Ho Chi Minh City, POSCO E&C said in a statement.
The formal contract is scheduled to be signed in April, with the South Korean builder slated to break ground for the terminal in May with the aim of completing it by 2011, POSCO E&C said.
Source: Business in Asia Today