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Tuesday, July 16, 2024

Can Gio transshipment port expected to generate VND40 trillion annually

The Saigon Times

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HCMC – The Can Gio international transshipment port project in Can Gio District, HCMC is expected to contribute annual revenue of VND34 trillion to VND40 trillion to the State budget, according to the HCMC Department of Transport.

The estimate is part of a study conducted for the Can Gio port project, which was recently submitted to the HCMC People’s Committee for consideration.

The Can Gio would stretch over seven kilometers on Con Cho Island, at the mouth of the Cai Mep River.

Once fully operational, the port would be able to handle container vessels of up to 250,000 DWT on routes connecting Asia with Europe, Africa and the Americas.

The project is divided into seven phases, with the first set to be completed by 2027 and the entire project expected to be done by the end of 2045. It would require a total of US$5.45 billion.

Private businesses can get involved in the port project and its infrastructure, facilities, and logistics facilities. Meanwhile, the transportation and technical infrastructure connecting the port will be funded by the State budget, public-private partnership (PPP), and other sources.

The development of the international transshipment port in Can Gio from 2021 to 2030 is vital in supporting the city’s seaport system, enhancing the country’s competitiveness in the region, and making a breakthrough in the maritime economy.

According to the study, the port is expected to attract significant investments from various businesses and create job opportunities for 6,000-8,000 employees, as well as tens of thousands of individuals working in ports and logistics centers.

MSC Group, a global leader in container shipping, has expressed interest in the port project in Can Gio.

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