Authorities in Ho Chi Minh City have proposed the construction of a US$6 billion international transshipment port in outlying Can Gio District.
The proposal was made by chairman of the municipal People’s Committee Phan Van Mai in his document sent to Prime Minister Pham Minh Chinh on Thursday.
The investment into the port was originally suggested by MSC Group – the world's largest shipping group, Vietnam Maritime Corporation, and Saigon Port.
The project is expected to have about 7.2 kilometers of wharves and cost approximately $6 billion.
The port will be able to receive the world's largest container ship, which can carry 24,000 twenty-foot equivalent unit (TEU) containers, while its capacity will be around 10-15 million TEUs.
The implementation of the project will be divided into seven phases, with the developers hoping that the first phase will be initiated in 2024 and put into operation in 2027.
The final phase is expected to be put to use in 2040.
The existing Can Gio wharf is located at the mouth of Cai Mep River, a location with favorable natural conditions in terms of channel depth on an international maritime route, according to the Ho Chi Minh City administration.
The wharf can accommodate container ships measuring up to 250,000DWT (24,000 TEUs).
This area has the perfect conditions to form an international transshipment container port, creating a competitive advantage for Vietnam against other countries in the region and a breakthrough in the marine economic development of Ho Chi Minh City and the whole country.
The municipal People’s Committee requested the prime minister to charge the Ministry of Transport with assisting the metropolis in assessing the advantages, opportunities, and ability to meet the requirements needed for the construction of the port.
The administration also suggested that the premier make necessary adjustments to the long-term plan so that the project can start within the 2021-30 period.
The volume of goods through Ho Chi Minh City’s seaports is anticipated to increase five percent during the 2021-25 period, the administration added.
The early implementation of container port projects is necessary to meet the current and future import-export needs of Ho Chi Minh City and the southern key economic region in general.