Vietnam Starts Building US$229 Mln Int'l Seaport in Central Region
The listed Gemadept Nhon Hoi International Port SJC December 7 kicked off construction of an international seaport costing VND3.704 trillion (US$229 million) in central Binh Dinh province.
In the first phase, Gemadept will invest VND1.197 trillion (US$74.8 million) to build two main 480-meter berths on an area of 119 hectares enabling the port to accommodate 30,000 DWT ships.
In the second phase, Gemadept will invest the remaining VND2.507 trillion to build an additional eight berths for container and cargo vessels with total length of 2,117 meters on a port area of 59 hectares.
The port is designed to have annual cargo throughput of three million tons by 2010 and 9.5 million tons by 2020 when in full performance.
The Ho Chi Minh City-based Gemadept Corp is engaged in one other joint venture in Vietnam that is building a US$35 million deepwater seaport in the central Dung Quat EZ.
GMD shares closed down 1.4 per cent at VND139,000 on 25,120 shares December 10. (Pioneer, BSC)
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