Ho Chi Minh City plans to invest $6 billion in new port



Ho Chi Minh City (HCMC) is proposing to build a US$6 billion international transshipment port in the remote Can Tho district, according to Vietnamese media reports.


The port investment was initially proposed by MSC Group, Vietnam Maritime Corporation and Saigon Port.


The project is expected to cost US$6 billion and the terminal length is about 7.2 kilometers. It will be able to receive the world's largest 24,000 teu container ship, and its capacity will be around 10 million to 15 million teu.


The implementation of the project will be divided into seven phases, the developers hope that the first phase will be launched in 2024, commissioned in 2027, and the final phase is expected in 2040.


According to the Ho Chi Minh City government, the existing Can Tho Pier is located at the mouth of the Cai Mep River and has good natural conditions in terms of the depth of the waterway for international sea routes.


The terminal can accommodate container ships of 250,000 dwt and 24,000 teu.


The region has the perfect conditions to build an international transshipment container port, creating a competitive advantage for Vietnam against other countries in the region, and bringing breakthroughs in the development of the maritime economy in Ho Chi Minh City and the country as a whole, Youth Daily reported.


The project has been sent to the Prime Minister of Vietnam for consideration, indicating that it may be included in the long-term plan and may be launched in the 2021-30 period.


According to the media, during 2021-25, the cargo throughput of Ho Chi Minh City port is expected to increase by 5%, and the new container port project is a necessary project to meet the current and future import and export needs of Ho Chi Minh City and key economic regions in the south.