APM Terminals and Vietnam's Hateco Group have agreed with Da Nang City to develop and operate the Lien Chieu Container Port in a project worth more than US$1.7 billion, reports Saint Petersburg's PortNews. The port is designed to handle over 5.7 million TEU annually, beginning with berths 1 and 2 in phase one and expanding to eight berths. Operations are targeted to start in early 2029. Groundbreaking took place in Da Nang with APM Terminals chief executive Keith Svendsen and Hateco chairman Tran Van Ky present. The partners will invest in civil works and equipment alongside shared infrastructure provided by the city. Mr Svendsen said the project would strengthen Da Nang's role as a gateway for central Vietnam by improving efficiency and connectivity across Southeast Asia. Mr Ky said the partnership would accelerate port development and support Da Nang's position as a central economic hub. At full capacity, the complex will include a deep-water terminal with up to eight berths for ships of 18,000 TEU, supported by container yards, warehouses, rail and industrial park links. The investment aims to cut logistics costs and congestion, building on the partners' joint experience at Hateco Hai Phong International Container Terminal, which opened in 2025.