HCMC – A port project in HCMC’s outlying district of Can Gio will serve international shipping and transit demand, enhancing the operational effectiveness of the Cai Mep-Thi Vai port, according to Phan Van Mai, chairman of HCMC.

Mai stated that the Can Gio international container terminal project is expected to take advantage of Can Gio District and maximize the handling capability of regional cluster ports.

The local media reported that Can Gio has favorable conditions for developing a port system and international container transshipment services due to its water depth and little waves’ height and wind speed influence.

“The project is highly feasible as its investor is a leading shipping corporation,” said Mai.

Some 80% of the project operation will focus on international shipping services, according to the Mediterranean Shipping Company with its subsidiary Terminal Investment Limited, the project’s investor.

According to Mai, the project will increase the competitiveness of Vietnam and the Southeastern region, which will help draw more foreign direct investment inflows.

The Can Gio international container terminal project has a total investment of US$5.9 billion, funded mainly by local and foreign investors. It is expected to handle vessels with 250,000 DWT.

The port covers roughly 90 hectares and includes over nine kilometers of wharves, with a designed capacity of 18 million­­­ twenty-foot equivalent cargo units per year.

The project is divided into seven phases, with its first phase expected to begin in 2024 and put into service by 2027. The last phase will be launched in 2040, according to the Vietnam News Agency.

Between 2015 and 2020, the cargo throughput at HCMC’s seaports increased by 7.34%. Growth is predicted to reach 5% in 2021 and 2025.