Vietnam Builds Int'l Port to Serve Dung Quat EZ

Vietnam will kick off construction of the Gemadept Dung Quat International Port, the largest deepwater seaport in the central region, tomorrow in Quang Ngai province, in a bid to attract more domestic and foreign investors into the Dung Quat Economic Zone (EZ), State media says.

 

The main investor of the VND575-billion (US$35.9-million) project is the Gemadept-Dung Quat International Port Joint Stock Company, a leading company in Vietnam in the field of sea transport.

 

In the first phase between now and 2008, the investor will build a wharf for 20,000-30,000-DWT ships to handle one million tons of cargo a year. The cost is estimated at over VND404 billion (US$25.2 million).

 

In the second quarter of 2007, the port will be partly put into operation. After 2008 the second phase will start to enlarge the wharf to serve 30,000-50,000-DWT vessels, bringing the total capacity of the port to 1.5 million tons per annum.

 

The Dung Quat EZ, home of Vietnam's first oil refinery, lured more than $1.5 billion in investment from dozens of local and foreign investors in the first half of this year, raising its total number of licensed projects so far to 102 with total registered capital of nearly $5.1 billion.
Investment