Can Gio Super-Port Officially Secures Investors; MSC Subsidiary Contributes 49% Capital

Can Gio Super-Port Officially Secures Investors; MSC Subsidiary Contributes 49% Capital

Author: Duc Phu

The consortium consisting of Vietnam Maritime Corporation (VIMC), Saigon Port Joint Stock Company, and Terminal Investment Limited Holding S.A. (a subsidiary of MSC shipping line) has been designated as the investor for the Can Gio International Transshipment Port project.

Perspective of Can Gio International Transshipment Port - Photo: Portcoast

The Ho Chi Minh City People's Committee has recently issued a decision approving the joint venture of VIMC, Saigon Port JSC, and Terminal Investment Limited Holding S.A. as the primary investor. Notably, Terminal Investment Limited Holding S.A., a member of the MSC shipping line, will contribute 49% of the total capital.

The Can Gio International Transshipment Port covers an area of approximately 571 hectares, with a projected main wharf length of about 7.5km. The design capacity is expected to reach 4.8 million TEUs by 2030 and 16.9 million TEUs by 2047. Regarding scale, the project will feature 2 to 4 berths by 2030, with a total wharf length ranging from 1,016m to 2,016m. The port will accommodate vessels with a deadweight of up to 250,000 tons (24,000 TEUs) or larger where conditions permit. The throughput capacity is projected to handle 22.8 to 57 million tons of cargo (equivalent to 2.4 - 4.8 million TEUs).

By 2050, the project is expected to expand to approximately 13 berths, meeting the growing demand for international container transshipment and cargo growth.

The total investment for the Can Gio project stands at 128,872 billion VND (approximately 4.99 billion USD). The investors are responsible for balancing their own capital sources to ensure the project's execution.

MSC Shipping Line - Photo: MSC Website

The Ho Chi Minh City People's Committee requires the investor to strictly adhere to the project's investment policies approved by the Prime Minister on January 16, 2025. The investor is responsible for ensuring the correct ratio of international transshipment goods versus Vietnam's import-export cargo. Furthermore, project implementation must ensure overall harmony without negatively impacting the operations of neighboring ports and harbors.

Investors are prohibited from transferring the project for a period of 10 years from the date the land and water surface are officially handed over. Additionally, they must disburse a minimum of 50,000 billion VND within the first 10 years and complete the entire construction of the project within 20 years, in accordance with Resolution No. 98 and Resolution No. 260.

Source: tuoitre.vn