The port development project has been approved

(Engineering daily) Nguyen Anh Duong = The Dung Quat Economic Zone and Quang Ngai Industrial Parks Authority has approved for Hoa Phat multipurpose port company to develop a large-scale port complex.

The complex will cost about USD 162.3 million.

In the first stage between now and 2020, a wharf with a length of 300m will be built. The wharf which will be eligible to accommodate vessels weighing 50,000 DWT along with some other supporting facilities are expected to better meet the import-export demand of enterprises operating in the Dung Quat EZ.

The 2nd stage from 2021 to 2024 will see the development of two more wharves which have a total length of 450m. These will have the capacity to handle vessels of up to 50,000 DWT.

The Dung Quat EZ and Quang Ngai-based IPs had attracted the number of investment projects in these zones to 320 costing 12.37 billion USD. Of these projects, 57 were foreign-invested with a total registered capital of 1.7 billion USD while the remainder was funded by domestic investors.