SEOUL—Posco Engineering and Construction Co., a unit of South Korea’ ws largest steelmaker, said it won a $112 million order with local rival Samwhan Corp. to build a port terminal in Vietnam.

The facility, to be located at Cai Mep, south of Ho Chi Minh City, will have the capacity to handle 1.15 million 20-foot standard containers a year, Seoul-based Posco Engineering said in an e-mailed statement Monday. Construction is expected to begin in May and may take 36 months to complete, the company said.

A.P. Moeller-Maersk A/S, Vietnam National Shipping Lines, known as Vinalines, and its unit Saigon Port Co. will lead the port construction project, according to the statement.

Posco Engineering, which is planning an initial share sale, aims to win $3.3 billion in overseas contracts this year, compared with $2.3 billion in 2007. Posco, Asia's third-biggest steelmaker, owned 91 percent of its construction unit at the end of September. (Bloomberg)

Subic Port expects more ship calls

SUBIC BAY FREEPORT—The Subic Bay Metropolitan Authority (SBMA) expects more ships to call at its port, with the scheduled operation of the Freeport’s new container terminal and the opening of the expressway linking special economic zones in Subic, Pampanga and Tarlac.

CLARK FREEPORT—Two multibillion peso logistics projects—a world-class logistics park and a maintenance, repair and overhaul (MRO) facility—will soon rise at the Diosdado Macapagal International Airport (DMIA) upon the signing of agreements this coming April 4.

HONG KONG—Hutchison Whampoa Ltd., parent of the world’s largest container terminal operator, boosted second-half profit from ports 15 percent as surging global trade fueled demand for sea cargo.

MELBOURNE—Ivernia Inc., barred a year ago from exporting 3 percent of the world's mined lead from Western Australia, is preparing 19,000 metric tons of lead concentrate for shipment pending final government approval.

TOKYO—Nippon Yusen K.K.’s unprofitable air-freight unit, Nippon Cargo Airlines Co., said demand from China will help its annual Asian sales from outside Japan surpass domestic revenue for the first time next fiscal year.

SEOUL—Posco Engineering and Construction Co., a unit of South Korea’ ws largest steelmaker, said it won a $112 million order with local rival Samwhan Corp. to build a port terminal in Vietnam.