Hai Phong grants investment certificate to terminal construction project

The Management Board of Hai Phong Economic Zones on September 27 handed over an investment certificate on a project building terminals 5 and 6 in Hai Phong Port’s Lach Huyen port area to HATECO Group JSC.

The project was given the Prime Minister's approval in principal at Decision No. 299/QD-TTg dated March 4, 2021.

With a combined length of 750 metres, the two terminals will be capable of receiving 8.000-TEU (100,000 DWT) vessels. The project’s total area is 47 hectares.

The project, which has a total cost of over VND6.4 trillion (nearly US$280.3 million), also include a berth for 48-TEU vessels or barges, port protection works, and warehouse systems.

Work on the construction of the project is scheduled to start this December. Once completed and put into operation, the terminals are expected to handle 25 million tonnes of goods per year.

General Director of HATECO Group JSC Hoang Dinh Tuan said this is an important project of the firm and it will mobilise all resources to implement the project.

Head of the management board Le Trung Kien said the agency and relevant units will create favourable conditions for the investor to implement the project on schedule.

Terminals No 1 and 2 came into operation in May 2018 and have served container vessels and general ships with a capacity of about 1.1 million TEU per year.

The construction of terminals 5 and 6 is expected to contribute to developing the Lach Huyen port area into an international gateway port, thus meeting the increasing demands of the market and directly bringing the northern region's exports to the European and American markets.

The Hai Phong Port handled 36.2 million tonnes of cargo last year, or more than 40% of the total in the city, earning revenue of over VND2.19 trillion with a profit of VND700 billion. In the first quarter of this year, it handled 9.3 million tonnes of cargo for VND563 billion in revenue and VND215 billion in profit.