CMA CGM and Saigon Newport will jointly develop a new deep-sea terminal in Haiphong, northern Vietnam, with a total investment of $600 million.
The agreement covers the design, construction, and operation of Lach Huyen terminals seven and eight, located in Lach Huyen area in Haiphong. The terminal will have a capacity of 1.9 million TEU and is scheduled to open in 2028.
"The project is designed to meet the sharp increase in container volumes in northern Vietnam - one of Southeast Asia’s fastest-growing economic zones," said CMA CGM.
"This partnership will enable CMA CGM to secure long-term capacity in a region that has become central to Asian supply chains due to its rapid industrial and logistics development."
CMA CGM is also the co-owner of the Gemalink terminal in Cai Mep and the Vietnam International Container Terminal in Ho Chi Minh City.