On 12 October this year, Vietnam National Shipping Lines (Vinalines) had entered join-venture agreement with 3 Japanese companies to build international seaport at Lach Huyen, Haiphong.

In the media release provided by Vinalines to Saigon Economic News Online, the three Japanese investors in the agreement are Itochu, MOL and NYK.

In the first phase of agreement, the project consists of two components. Component A includes such works as construction of waterway to the port, dykes against waves and sand, and roads. Those works will be implemented using Japanese Official Development Assistance (ODA) and Vietnamese contribution of about 900 USD, mobilized through the application of public-private partnership (PPP) mechanism.

Component B of the project will be jointly invested by Vinalines and Japanese investors. It includes 2 ship docks of 750 meters in total length and 14 meters in depth; and a container plant of 22 hectares wide. Total investment to this component of the project is 321 million USD.

Mr. Nguyen Canh Viet, Vinalines General Director, estimates that total volume of goods transported by seaway in the North of Vietnam may reach 60 million tons a year in 2015 and about 100 million tons a year until 2020. To date, the existing seaports of Vietnam are not capable to handle such a big volume of goods.

Therefore, the building of Lach Huyen seaport would help to open up the “bottleneck” and accelerate the sea communication between the North Vietnam and other countries in the region and over the world.

In Vinalines plan, the construction of 2 ship docks will be completed in 2016 to enable the port to handle 6 million tons of goods per year. Until 2020, Lach Huyen seaport will become international commercial seaport with 8 ship docks with capacity of 30 million tons of goods per year. 

According to Vietnam Seaport Development Plan until 2020, vision to 2030, Lach Huyen international seaport at Hai Phong City will be the focal point for the sea transport of goods, connecting provinces of North Vietnam with countries in the region and over the world.

(Source: Saigon Economic News Online)
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