[Vnbiz] CONSTRUCTION OF VIETNAM'S HAI PHONG PORT TO BEGIN IN Q2

[Tai Phan]

CONSTRUCTION OF VIETNAM'S HAI PHONG PORT TO BEGIN IN Q2

01/16/2008 07:09:30 AM EST
Asia Pulse Businesswire

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HANOI, Jan 16 Asia Pulse - The Hai Phong International Gateway Port is being
planned for Cat Hai District in the northern port city of Hai Phong
beginning in the second quarter of this year, according to the city's
Planning and Investment Department.

"Vietnam National Shipping Lines [Vinalines], the investor, is rapidly
preparing for the project," said Pham Van Long, deputy head of the Industry
and Service Sector under the department. Long said that the final project
had been submitted to the Government and would be approved by Prime Minister
Nguyen Tan Dung within the month.

"If the Prime Minister approves the project, it will begin in May. If not,
it will be built one month later. The Prime Minister will approve the
project after seeing results on how the project will impact the surrounding
environment," Long said.

According to the plan, the project will have two phases. Covering an area of
1,200ha, the project will include wharves, service systems and modern
transport facilities outside of the port. It is estimated that the two
phases will cost VND28 trillion (US$1.8 billion) which will be mobilised
from the domestic and State budgets as well as from international investors.

The first phase will be carried out from 2008 to 2010. Within this phase,
Vinalines will construct two stations with a service centre and a total of
600m of wharf able to accommodate 50,000-tonne vessels.

After the first phase is complete, Vinalines will ask the Government for
permission to mobilise capital to continue with the second. When completed
in 2020 the Hai Phong International Gateway Port will be the key port in the
region. Roughly 100 million tonnes of goods are hoped to be transported
through the port by 2020.

To date, the city and related sectors are co-operating well in solving
problems related to land clearance and land compensation. "One difficulty
that the project faces is examining environmental conditions. The Ministry
of Natural Resources and Environment is currently assembling a board to deal
with this issue. We believe the results will be good," said Long. The port
project is one of two national key projects in Hai Phong in 2008. The other
project is building the Hanoi-Hai Phong Highway.

(VNA)

16-01 1443


Copyright (c) 2008 Asia Pulse Pte Ltd.
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