The northern Vietnamese city of Hai Phong has received the approval for the construction of two container terminals 5 and 6 in Lach Huyen Port.
The project, approved by Deputy Prime Minister Trinh Dinh Dung, is invested with a total capital of more than VND6.4 trillion (US$277.5 million), including nearly VND6 trillion ($260.2 million) in the first phase from 2020 to 2025 and over VND352 billion ($15.26 million) in the second phase from 2030 and later.
Fifteen percent of the total investment comes from HATECO Group, which is the investor and operator of the project, while loans and other legal mobilized capital sources account for 85 percent.
The two container terminals will be built at Lach Huyen Port in the Dinh Vu-Cat Hai Economic Zone, Cat Hai District, Hai Phong City.
They will have a total length of 750 meters and can receive ships with a capacity of up to 8,000 TEUs (twenty-foot equivalent unit).
The project also includes a barge berth, which can accommodate container vessels and barges with a capacity of up to 48 TEUs, in addition to technical infrastructure and equipment, on a total area of about 47 hectares.
Authorities in Hai Phong City are assigned to monitor and inspect the implementation of the project in accordance with regulations on construction investment, land, natural resources, and capital mobilization.
The procedures of environmental impact assessment are required before the project is carried out.
Other tax procedures and policies also have to be ensured.