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HO CHI MINH CITY GREENLIGHTS $5B MSC CARGO TERMINAL
DETAIL INFORMATION
Vietnam's Can Gio International transshipment port project has advanced, as Ho Chi Minh City has approved the consortium to oversee its development this week. The consortium partners are headed by MSC’s Terminal Investment Limited (TIL), holding a 49% share, followed by Vietnam Maritime Corporation with 36% and Saigon Port, a VIMC subsidiary, with 15%.
The partnership will lead to the construction of Vietnam's largest transshipment port, as Ho Chi Minh City aims to enhance its reputation as an international maritime center. The proposal for a transshipment port project has been pending the city’s approval for nearly four years. The Can Gio International, costing $4.9 billion, will be constructed on a 570-hectare offshore islet called Go Con Sho, located at the mouth of the Cai Mep River. The port is set to accommodate 4.8 million TEU initially by 2030, increasing to 16.9 million TEU by 2047.
During the initial stage, the port will feature as many as four berths that can accommodate ships weighing up to 250,000 tons. The ultimate aim is for the port to feature 13 berths and an overall quay length of 7.5 kilometers. In choosing the consortium, the city had stated it would consider various factors, such as financial strength and expertise in port operations.