Ca Mau seeks $2.5b seaport
Ca Mau seeks $2.5b seaport
The Ca Mau People's Committee has petitioned Prime Minister Nguyen Tan Dung for permission to build a US$2.5 billion seaport in the southernmost province.
According to Dau tu (Vietnam Investment Review) online, the local authority proposed Cong Ly Construction, Trading, Tourism Co Ltd as an investor in the project, which will be built on Hon Khoai Island in Ngoc Hien District.
The PM has reportedly allowed the project to be listed in a group of seaports that serve high capacity ships in the Cuu Long (Mekong) Delta.
Committee Chairman Pham Thanh Tuoi said Cong Ly had presented an investment scheme with intention to develop facilities that would be able to serve vessels of up to 250,000 deadweight tonnage (DWT).
The company would manage 15 per cent of the total investment capital with its own budget, and borrow the remainder from the Export-Import Bank of the US. It would carry out the project during 2016-20, if approved.
"Early completion of the project will be vital for investments in the Nam Can Economic Zone," Tuoi said, referring to an economic zone situated about 42 kilometres from the island.
In the south, Cong Ly has developed waste-treatment and wind power plants. The firm also prepares to build another wind power factory in Ca Mau.
