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Saturday,  May 26,2018,15:21 (GMT+7)

First deepwater seaport in northern Vietnam inaugurated

Le Anh
Tuesday,  May 15,2018,20:35 (GMT+7)
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First deepwater seaport in northern Vietnam inaugurated

Le Anh

The first container is handled at Haiphong International Container Terminal, which officially started operation on May 13 - PHOTO: JICA

HCMC – Haiphong International Container Terminal, the first deepwater seaport in the north of Vietnam, was put into operation on May 13 in Haiphong City.

The port, 25 kilometers from the city center, has two berths totaling 750 meters in length able to handle vessels of 14,000 twenty-foot-equivalent units (TEUs) or 160,000 tons. The port’s cargo throughput is estimated at 1.1 million TEUs per year.

The port was developed by a joint venture between Saigon New Port Corporation, Japan’s Mitsui O.S.K Lines Co Ltd and Itochu Corporation, and Taiwan’s Wan Hai Lines Co Ltd, which hold respective stakes of 51%, 17.5%, 15% and 16.5%.

Thanks to the seaport, the northern region’s exports will be directly shipped to Europe and America by big vessels, instead of being transshipped by feeder vessels to bigger ports as earlier, thus reducing maritime transport and logistics costs for enterprises and enhancing the competitiveness of Vietnamese exports.

According to the Japan International Cooperation Agency (JICA), the port is part of a project to develop Lach Huyen International Terminal’s infrastructure using JICA’s official development assistance (ODA) loans.

In 2011, JICA signed an agreement to provide ODA loans of 114.12 billion yen, or over US$1 billion, including nearly 65.3 billion yen for the port development project and 48.9 billion yen for bridges and roads. On September 2 last year, Vietnam’s longest sea bridge with a length of 5.44 kilometers was opened to traffic.

In addition to crucial facilities such as access roads, wavebreakers and embankments financed by ODA loans, wharfs and equipment to handle cargo and operate the port will be invested by a joint venture of Vietnamese and Japanese enterprises. This is the first ODA project to be implemented under the public-private partnership (PPP) format of the two countries.

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