Capital for Japan-funded Port Likely to Rise 3.6 Times to VND17.16T

Investments for the part A of Haiphong international gateway port which funded by Japan is likely to rise 3.6 times to VND17.16 trillion compared to the initial cost of VND4.66 trillion.

Of the sum, the Japan International Cooperation Agency (JICA) pledged VND14.67 trillion ($929.02 million) for the part.

The hike of capital is attributed to adjustment of ship size designed for container wharf, length and width of ship passages and other facilities.

The part B of the seaport project which is estimated to cost VND3 trillion will be built under the public-private partnership (PPP) form.

The seaport is Vietnam’s second infrastructure project to use the model after the construction of the Dau Giay-Phan Thiet expressway, which cost VND14.3 trillion.

Once operational, the port is expected to handle 50,000 DWT ships instead of 30,000 DWT ships as designed.

Tags: Haiphong international gateway port, Vietnam Infrastructure