Vinalines to Invest US$3 Bln into Development Projects by 2010

State-run Vietnam National Shipping Lines Corp (Vinalines) plans to invest US$3 billion to boost the country’s sea transport capacity from now to 2010, the Pioneer newspaper cited General Director Mai Van Phuc as saying.

 

The investment will focus on expanding the seagoing vessel fleet, upgrading the current seaport system and enhancing logistic services, Mai Van Phuc noted.

 

Vinalines will buy more foreign second-hand seagoing ships and build new ones to raise the seagoing ship fleet to 2.6 million tons late this year, 3.5 million tons in 2010 from 2.1 million tons as of late 2007.

 

“We will have more heavy ships of 50,000 tons to 70,000 tons by then”, confirmed Phuc without giving information about the investment sources and other details.

 

The country’s top shipping company planned to build Lach Huyen deep water seaport in Haiphong city in mid 2008 to handle 100,000 DWT ships, upgrade wharfs No. 2, 3, and 4 of Cai Lan seaport in Quang Ninh province to receive 40,000 DWT ships and five wharfs in Dinh Vu seaport to receive 20,000 DWT ships.

 

Vinalines has targeted to establish three transport logistic centers in northern, central and southern regions and open three oversea representative offices in Asia region, Phuc added.

 

The state-owned shipping company expects to transport 27.3 million tons of commodities in 2008, up 9 per cent on year and handle 47.5 million tons via ports, up 5 per cent on year. (Pioneer)