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Japanese firms to build new port
Japan's Mitsui OSK Lines Ltd, Nippon Yusen KK and Itochu Group will establish a joint venture with Viet Nam National Shipping Lines (Vinalines) to construct a major container port in northern city of Hai Phong.
"The 53.8ha port will be built under the public-private partnership model," said the deputy head of Vinalines's planning and investment division, Nguyen Dai Dung.
The infrastructure component of the project would consist of building infrastructure and would use official development assistance (ODA) loans from the Japanese Government. Japanese investors and Vinalines would then invest US$250 million in building two container terminals.
"The total amount of investment capital will be announced soon," Dung said.
Ealier, Japanese economic daily Nikkei reported that a joint venture for building and operating the terminal would soon be established, in which Vinalines would take a 51-per cent stake.
As a transit point for Southeast Asia, Nikkei said, Viet Nam has seen shipments skyrocket, with cargo handled by northern Viet Nam ports ballooning by some 600 per cent over the past decade.
Panasonic, Canon and other Japanese firms have set up plants and, as more infrastructure was built, Viet Nam would likely to be increasingly considered as an export base, the newspaper said.
Viet Nam Marine Administration deputy director Nguyen Ngoc Hue said Viet Nam needed at least $56 billion to build and upgrade seaport infrastructure before it would have a developed marine economy.
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