Japan to finance $1B for seaport projects in Vietnam

Japan and Vietnam will sign agreements to provide $1 billion in official development assistance (ODA) for two seaport projects in Vietnam in September, the Lao dong newspaper reported July 29, citing Ambassador Mitsuo Sakaba. Construction of Lach Huyen International Gateway Seaport in the northern city of Haiphong and Cai Mep-Thi Vai International Seaport in southern province of Ba Ria-Vung Tau are slated for completion in 2015, Sakaba said. Stared in 2008, construction of Cai Mep-Thi Vai seaport includes a container port with two wharfs which can receive 80,000 DWT container ships and a genera port for 50,000 DWT vessels. Meanwhile, construction of Lach Huyen seaport, including four container cargo wharves and two bulk cargo wharves, have not been started yet so far. It is expected to handle 35 million tons of cargo annually once operational. Japan is now the largest bilateral donor of Vietnam with roughly $16 billion committed to the country, accounting for one third of Vietnam’s pledged ODA. It pledged $1.64 billion ODA to Vietnam this year. As of July 20, Japanese firms have poured $19.58 billion into 1,244 projects in Vietnam, ranking the 3rd among the countries and territories making investment in the country.

Tags: Cai Mep-Thi Vai International Seaport

Posted by VBN on Aug 4 2010. Filed under Banking-Finance, Infrastructure. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry