Cargo Business Newswire

Tuesday, July 21, 2015

Vietnam approves $2.5B port project

Vietnam's government has agreed on a $2.5 billion port project in the southern province of Ca Mau, according to media reports. The port would be able to accommodate some of the world's largest ships.

The Hon Khoai port would be built under a public-private partnership, the government said, while local media, citing a provincial proposal, said 85 percent of the funding would be received from loans from the Export-Import Bank of the U.S.

The remaining 15 percent of the cost will come from the private sector.

The five-year project, to be completed in 2020, will need approval from the Ca Mau provincial authority, the government said on its website.

For more of the Khmer Times story: www.khmertimeskh.com