VND110 billion for expanding Hon La Port

The Vietnam Oil and Gas Group announced that on September 7 the Petroleum Technical Services Corporation (PTSC) and the Vietnam Joint Stock Commercial Bank for Industry and Trade signed a contract providing them with a loan of VND110 billion over 10 years to invest in the Hon La Port project.

PTSC bought the Hon La Port project from Central Quang Binh province at a total cost of VND158 billion. The company now owns the legal right to develop the first phase of the project. It also received approval to upgrade the port in line with the plan previously ratified by the province.

Nguyen Hung Dung, General Director of PTSC announced that Hon La Port is its 5th port, playing a crucial part in the development of the country’s deep water ports.

Located in the Hon La Industrial Park in Quang Dong commune, Quang Trach district, Quang Binh province between the two major ports of Hai Phong and Da Nang, Hon La port holds an important strategic position not just in the North-South marine transport network but also in the Central provinces close to Laos and Thailand.

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