Ba Ria-Vung Tau revokes $450-million port licence
Ba Ria-Vung Tau revokes $450-million port licence
The VND10.23-trillion ($450.1 million) Cai Mep Ha port complex project, located in the southern province of Ba Ria-Vung Tau, had its investment certificate revoked due to the long delay in completing the necessary procedures to start construction.
Accordingly, the Ba Ria-Vung Tau People’s Committee has issued a decision to revoke the investment certificate of the project invested by Vung Tau Shipbuilding and Oil Gas Services JSC (Vung Tau Shipyard).
Licensed in September 2010, the project would cover an area of 86.6 hectares and was designed to handle ships with the capacity of 160DWT. The construction of the project was expected to be conducted in two phases, in 2010-2013 and 2013-2015.
However, as of now, the investor has yet to complete the remaining procedures to start construction, including building and submitting the detailed construction plan to the provincial authorities, conducting the environmental impact assessment report, and submitting the certificate of land use rights.
