Singapore company seeks to expand Vung Ang Port
Singapore company seeks to expand Vung Ang Port
Freight Link Capital based out of Singapore has submitted a US$114 million investment proposal to the Ministry of Transport to construct two additional wharfs at the Vung Ang Port area of the Ky Anh district in the central province of Ha Tinh.
As proposed the wharfs would be operated by a 100% foreign owned entity. The venture to alleviate the overcrowded port has already been given the green light by the management board of the Vung Ang Economic Zone.
Once constructed the two wharfs would span a total length of 500m capable of handling vessels of up to 50,000 DWT with the added capacity to service cargo and containers for not only the Formosa Ha Tinh Steel Complex but the entire region.
Li Weimin, Freight Links Capital President said the two additional wharfs are needed to meet the future projected demand for unloading cargo, machinery and equipment and clear congestion due to increasing cargo volumes.
