The Prime Minister has allowed Saigon Newport Corporation, a leading port operator in Vietnam, to invest VND12.79 trillion ($545 million) in building two wharves at the Lach Huyen seaport in Hai Phong city.
The two wharves, No. 7 and No. 8, of the key seaport in the northern coastal city, is set to include two 450-meter berths to welcome container ships of up to 12,000-18,000 twenty-foot equivalent units (TEUs), and one 200-meter barge berth to accommodate ships of up to 160 TEUs. The facility is set to cover 79.86 hectares, including 22.33 hectares of water surface.
The wholly state-owned Saigon Newport is set to contribute VND1.92 trillion ($81.73 million) to the project, while mobilizing the remaining VND10,874 billion ($463.11 million). Construction of the 70-year project is scheduled for 2023-2027.
The investment is part of the national sea strategy, with a goal of exporting and importing goods from northern Vietnam to Europe and the Americas, while utilizing and developing Dinh Vu-Cat Hai Economic Zone in Hai Phong city.
Currently, wharves No. 1 and No. 2 of the seaport have the capacity of 1.1 million TEUs, after they were put into operation in May 2018.
Wharves No. 3 and No. 4, with an investment of VND6.95 trillion ($295.82 million) by local firm Port of Haiphong JSC, and wharves No. 5 and No. 6, with a total investment of VND8.95 trillion ($381.21 million) by local business Hateco Group JSC, are under construction toward operation in 2025.
The total volume of transported goods in Hai Phong reached 71.17 million tons in the first quarter of this year, up 5.36% year-on-year, according to the municipal statistics office. They included 10.7 million tons via sea routes, up 7.29%; 2.51 million tons via inner water ways, up 16.44%; and 57.97 million tons via roads, up 4.59%.