News Release

9th August 2007

Construction of SITV Underway


[9 August 2007, Hong Kong and Ba Ria – Vung Tau, Vietnam] Hutchison Port Holdings (HPH) and joint-venture partner Saigon Investment Construction & Commerce Company Limited (SICC) celebrated today the commencement of construction works for Saigon International Terminals Vietnam Limited (SITV). The occasion was marked with a meeting between Deputy Prime Minister of Vietnam, Mr. Nguyen Sinh Hung and Mr. John Meredith, Group Managing Director of HPH, at the Government House, followed by a groundbreaking ceremony led by Mr. Tran Minh Sanh, Chairman of the People’s Committee of Ba Ria Vung Tau Province, Mr. Ngo Thinh Duc, Vice Minister of Transport, Mr. John Meredith, and Mr. Hoang Van Hien, General Director of SICC, at the port.

Speaking at the groundbreaking ceremony, Mr. John Meredith said, “HPH supports the Vietnamese Government’s vision of pursuing economic prosperity by investing in the country’s port infrastructure, as well as in other strategically important projects. We are happy to play a part in these exciting developments. SITV is an important addition to the HPH network of ports in Asia. We will continue to invest heavily in this project, and will commit significant resources to creating a world-class container handling facility, with an international reputation for excellence.”

Mr. Hoang Van Hien, said, “SICC is delighted to partner with HPH in the SITV project. Bringing in international port development and management expertise will assure SITV to rapidly establish itself as the premier container-handling facility in the country.”

HPH and SICC, a major Vietnamese construction and real estate company, expect SITV to come on stream in 2010. The modern container-handling facility will have a total quay length of 730 metres, dredged to a depth alongside of 14 metres and with a total yard area of 33 hectares. SITV is located in the industrial Cai Mep and Thi Vai districts of Ba Ria Vung Tau Province, an area especially designated by the Vietnamese Government for the development of much needed container handling facilities.

Linked by a national highway, SITV is located approximately 75 kilometres from the Ho Chi Minh City hinterland, home to many industrial areas in Vietnam, and the new terminal will facilitate the movement of cargo to/from this hinterland. The terminal is in close proximity to the Phu My Power Plant, a major utility plant in the area.