Gemadept Invests US$229Mln to Build Nhon Hoi Port

Gemadept Nhon Hoi International Port SJC was licensed on July 12 to build a VND3.7 trillion (US$229 million) international port in Nhon Hoi Economic Zone in central Binh Dinh province.

 

The freight forwarder will build two main 480-meter berths in the first stage, enabling the port to accommodate 30,000 DWT ships.

 

The port is designed to have annual cargo throughput of three million tons by 2010 and 12 million tons by 2020 when in full performance.

 

The project is expected begin by the end of September.

 

The VND70-billion Gemadept Nhon Hoi International Port JSC is a joint venture between the Gemadept Corp, Vietnam largest listed freight forwarder, which holds 55 per cent of the company, and Saigon-Nhon Hoi Industrial Park JSC and other partners.

 

The Ho Chi Minh City-based Gemadept Corp is engaged in one other joint venture in Vietnam that is building a US$35 million deepwater seaport in the central Dung Quat EZ.

 

The 12,000 hectare Nhon Hoi EZ was developed to house industries including agricultural processing, forestry and aquatic products, construction materials manufacturing, seaport logistics, petro-chemistry, manufacturing electronic goods and electric materials, textiles, garments and footwear for export.