Japan, Vietnam Firms to Build $350M Port in North
Mitsui O.S.K Lines Ltd, Nippon Yusen KK and Itochu Corp. from Japan and Vietnam National Shipping Lines (Vinalines) will build a container port with a total investment of JPY30 billion ($350 million) in Vietnam’s northern city of Haiphong.
Of the sum, Vinalines will contribute a 51% or $178.5 million and the three Japanese companies will pour the rest into the port.
Once operational in 2015, the container port, which will become Vietnam's biggest terminals, is expected to handle 855,000 TEU per year, accounting for nearly half of the total container loading capacity of northern ports.
Located in Lach Huyen district, the port will also be able to receive 8,000 TEU containerships that are unable to dock at neighboring ports, enabling direct exports to North America.
The Japanese government is considering to lend JPY80 billion ($940 million) to Vietnam to for seaport infrastructure development in northern Vietnam.
Japan is now the largest bilateral donor of Vietnam with roughly $16 billion committed to the country, accounting for one third of Vietnam’s pledged ODA. It pledged $1.64 billion ODA to Vietnam this year.
As of July 20, Japanese firms have poured $19.58 billion into 1,244 projects in Vietnam, ranking the 3rd among the countries and territories making investment in the country, the Ministry of Planning and Investment’s figures showed. (VoV)
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