Vietnam consortium proposes $2 bln seaport to handle world’s largest ships

A consortium of Vietnamese companies has put forward a proposal to build a seaport at an estimated cost of VND50.82 trillion ($2 billion) in southern Vietnam that will be capable of handling the world’s largest vessels.

The trio – State Capital and Investment Corporation (SCIC), Hanoi-based Geleximco Group, and Ho Chi Minh City-domiciled International Transportation and Trading Joint Stock Company (ITC) – has submitted the plan to the government to build Cai Mep Ha port in Phuoc Hoa ward, Phu My town, Ba Ria-Vung Tau province.

In the first phase, the port is designed to have two quays with a combined length of 900 meters that can handle ships of up to 250,000 deadweight tonnage (DWT).

In a report sent to the government, the Ministry of Transport showed support for the project and the consortium. The ministry suggested the consortium needs to prove its financial capacity to get in-principle approval from competent authorities.

Ba Ria-Vung Tau seaport, which currently has seven quays, has a designed annual capacity of handling 7.66 million twenty-foot equivalent unit (TEU) containers. However, its annual through-put has exceeded eight millions TEUs over the past three years.

Under the national seaport masterplan for 2021-2030, with a vision to 2050, Cai Mep Ha port will be among the facilities to be given investment priority until 2030.

In mid-May, Deputy Prime Minister Tran Hong Ha assigned the ministry to work with the Ba Ria-Vung Tau government on the Cai Mep Ha port project and report to the prime minister for consideration.

Exports-reliant Vietnam is in dire need of developing seaports to accommodate export growth. The transport ministry last year proposed adding Can Gio international port in Ho Chi Minh City to the national master plan. It is slated to receive ships of 250,000 DWT or more.