Hanoi: Nam Can International Port, a port in the southernmost province of Ca Mau in Vietnam, has been turned into a bus station and construction material loading venue as investors have failed to develop the port.
According to a port official, the port was designed to become an international port when the province’s local government transferred the port management to Vinashin in 2007, but later the state-run shipbuilder was severely hit by huge debts, so the port was transferred again to another state-run shipping company Vinalines. However, Vinalines also became debt-ridden, which resulted in the demise of the port.
“The port is built in a prime location but has failed to operate up to its potential thanks to the inadequate investment,” the official said.
“We had to make use of the facility to sell construction materials to cover expenses and maintain operation,” he added.
The local government has called on the Prime Minister to transfer the project to another investor with the financial ability to revitalize the project. [10/07/13]
