Japanese Groups to build container port in Hai Phong

News - Japan’s Mitsui.O.S.K Lines Ltd, Nippon Yusen KK and Itochu Group, are planning a joint-venture with Vietnam National Shipping Lines (Vinalines) to construct a large container port in Hai Phong, reported the Japan’s newspaper Nikkei on August 12.

The project will have a total investment capital of US$350 million, 51 percent of which comes from Vinalines. The rest is equally divided among the three Japanese groups.

When completed in 2015, the port will handle about 855,000 TEU (1 TEU is the capacity of a 20-foot container), about half the total handling capacity of Vietnam’s northern port.

Nikkei also reported that the Japanese government is considering lending Vietnam US$940 million to improve the infrastructure of its northern region.