A consortium consisting of Vietnamese State Capital Investment Corporation (SCIC), Hanoi-based Geleximco Group, and Ho Chi Minh City-based International Transportation and Trading (ITC) plans to build a cargo port in Ba Ria in southern Vietnam.
The cargo port, with an estimated cost of VND 50.82trn ($2bn), will be done in two phases. According to the country’s Ministry of Transport, the first phase of the project will be carried out until 2030, involving investments in two docks to accommodate ships up to 250,000 dwt.
Currently, the Ba Ria – Vung Tau seaport has seven berths designed with a container handling capacity of up to 7.66 million teu per year. The average container throughput over the past three years has exceeded 8m teu per year which is over the designed capacity of the container berths.
The ministry believes that Phase 1 of the project is in sync with Vietnam’s overall plan for seaports regarding ship size and functionality.
However, the ministry stated that the investor must show proof of its financial ability to provide capital for such a large investment to be approved for the project.
