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MSC Subsidiary to Invest 49% in Vietnam's Can Gio International Transshipment Port
๐Ÿ‡ป๐Ÿ‡ณ Vietnam /Economy & Trade

MSC Subsidiary to Invest 49% in Vietnam's Can Gio International Transshipment Port

From Tuแป•i Trแบป · (2d ago) Vietnamese Positive tone

Translated from Vietnamese, summarized and contextualized by DistantNews.

TLDR

  • Vietnam's Can Gio International Transshipment Port project has officially secured an investor, Terminal Investment Limited Holding S.A., a subsidiary of the world's largest shipping line, MSC.
  • MSC will contribute 49% of the capital for the massive port project, which is expected to handle millions of TEUs annually by 2030 and significantly expand by 2050.
  • The project, with a total investment of approximately $5 billion, aims to become a major international transshipment hub, boosting Vietnam's logistics and trade capabilities.

Ho Chi Minh City has officially approved the joint venture for the Can Gio International Transshipment Port project, marking a significant milestone with the participation of Terminal Investment Limited Holding S.A., a member company of the global shipping giant MSC. This development signals a major step forward in Vietnam's ambition to establish a world-class transshipment hub, bolstering its position in international maritime trade.

Terminal Investment Limited Holding S.A., affiliated with MSC, will invest 49% of the capital for this ambitious project. The port is designed to accommodate vessels up to 250,000 tons and is projected to handle 4.8 million TEUs by 2030, with plans for substantial expansion to 16.9 million TEUs by 2047. The total investment for the Can Gio International Transshipment Port is estimated at VND 128.872 trillion (approximately $4.99 billion), with the investor responsible for securing the necessary capital.

The Can Gio International Transshipment Port is where containers are transferred from 'feeder vessels' operating on short-sea routes (feeder routes) to large ships (mother ships) for international transport routes.

โ€” N/AExplanation of the function of a transshipment port.

This project is poised to revolutionize Vietnam's logistics infrastructure, facilitating the smooth transfer of containers from feeder vessels to large mother ships destined for international routes. The strategic location and scale of the Can Gio port are expected to enhance the efficiency of import-export activities and significantly contribute to the nation's economic growth. The investor is mandated to adhere to the Prime Minister's directives, ensuring the project aligns with national trade policies and does not negatively impact nearby port operations, while also committing to substantial capital disbursement and timely project completion within two decades.

Terminal Investment Limited Holding S.A. is a member enterprise of MSC - the world's largest shipping company headquartered in Geneva, Switzerland.

โ€” N/AInformation about the investor's affiliation with MSC.
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Originally published by Tuแป•i Trแบป in Vietnamese. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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