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|Terminal 5 and 6 will meet direct export-import needs to the European and American markets|
Investment capital for the project is VND6.425 trillion ($279.35 million), 15 per cent of which will be equity while the remaining 85 per cent will come from loans and other sources.
The project will be separated into two phases, with the first one (VND6.073 trillion [$264 million]) lasting from 2020 to 2025, and the VND352.23 billion ($15.3 million) second one from 2030 until after 2030.
Terminals 5 and 6 will be 375m long each and be able to receive vessels of 100,000DWT. It is being invested by HATECO Group JSC and will operate for 70 years.
The construction of phase 1 is expected to take four years from the approval of the decision on investment policy, while phase 2 is expected to be built within one year.
The two terminals are going to facilitate goods export and import from the north directly to the European and American markets. Additionally, it also contributes to the development of Dinh Vu-Cat Hai Economic Zone, promoting the socioeconomic development of Hai Phong city and the northern area.
Hai Phong City People's Committee is in charge of checking and supervising HATECO Group and the project's implementation process.
Additionally, the committee coordinates with the Ministry of Natural Resources and Environment to direct and guide HATECO Group in assessing the environmental impacts of the project.