Vietnamese firm to invest $35 mln in new Quang Ninh seaport

Tam Thanh Co., Ltd. is the only investor that has registered to invest in Port No. 1 of the Mong Duong-Khe Day port cluster in northern Vietnam's Quang Ninh province.

Accompanying Tam Thanh in the VND838 billion ($35.2 million) project is Phu Xuan Construction and Consultant JSC as partner and main contractor, according to the Department of Planning and Investment in the coastal province.

The project will cover nearly 38 hectares of land and water surface, of which 32.4 hectares are being used by two households for afforestation and aquaculture. The remaining area is managed by the People's Committee of Mong Duong ward, Cam Pha town.

The seaport project is scheduled to be completed by the fourth quarter of 2025.

Headquartered in Cam Thach ward, Cam Pha town, Tam Thanh Co., Ltd., established in 2006, specializes in trading in solid, liquid and gas fuels and related products.

In the past few years, the company has won a number of bidding packages, including a VND32.6 billion ($1.37 million) construction materials transport package of Vinacomin-Duong Huy Coal Company and a VND4.8 billion ($201,500) package from the 35 Company-Dong Bac Corporation Branch.

In other news related to the port system in Quang Ninh, earlier, the Quang Ninh People’s Committee had approved a VND740 billion ($31.5 million) liquid cargo port project at the Bac Tien Phong Industrial Park in Quang Yen township.

The 16.5-hectare project will be built by Quang Ninh-based Yen Hung Liquid Port Joint Stock Company in the Mac Dynasty lagoon area covering Tien Phong, Lien Hoa and Ha An communes. The investor will construct a 425-meter-long specialized berth serving the import and export of liquefied petroleum gas (LPG) and gasoline products.

It will be able to accommodate liquid cargo ships of up to 50,000 DWT in the first phase, which is expected to be completed in the first quarter of 2025; and 100,000 DWT vessels in the second phase set for completion in Q1/2028.

Vietnam handled 28.21 million tons of goods via sea transport and 118.78 million tons via inland waterway transport in the first quarter of this year, up 20.2% and 40.1% year-on-year, respectively, according to the General Statistics Office.

Corresponding figures for Quang Ninh were 12.8 million tons and 13.9 million tons, up 26.3% and 27.2%, respectively.