Koon wins Vietnamese port project
News - March 12, 2010
Port Technology reports that Koon Holdings has won a US$160.29 million contract for the turnkey design and construction of Sao Bien International Port, Vietnam.
The contract will be the first major overseas project for the civil engineering, reclamation and shore protection specialist. The deal was clinched through it 60 per cent owned subsidiary Koon-Top Pave Joint Venture (KTP).
KTP's other 40 per cent equity interest is held by Top Pave (TP), a Singapore-based general building contractor, which is also working on the Hai Phong port, northern Vietnam. The principal activities of the venture are to engage in civil engineering projects in Vietnam.
Port Technology said the project, which has a work duration of 42 months, will employ a range of services including soil improvement and construction of marine infrastructure.
Located along the petrochemical belt of Vietnam, Sao Bien Port will have a container handling capacity of 37,464 TEUs. It is expected to be able to berth two vessels of up to 30,000 dwt each and another two vessels of up to 10,000 dwt each.
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