European investors eye $984 mln logistics center in Vietnam

By Phuong Anh September 16, 2020 | 11:55 pm PT

An aerial view of the Tan Cang - Cai Mep International Terminal in southern Ba Ria-Vung Tau Province. Photo by Shutterstock/Hien Phung Thu.

Belgian and Dutch firms have expressed interest in funding part of a $984 million seaport logistics complex in southern Ba Ria–Vung Tau Province.

They proposed Wednesday to Prime Minister Nguyen Xuan Phuc to invest in Cai Mep Ha Logistics Center to oversee large container ships at the Cai Mep port complex, which in recent years has been one of the fastest-growing ports in the world.

The state-owned Netherlands Development Finance Company (FMO) has committed to financing 10 percent of the project, and the Belgian Corporation for International Investment has planned to play a role in the investment.

Ba Ria–Vung Tau authorities in July approved the 1/2000 project planning scheme that covers 1,763 ha. Construction is planned between 2021 and 2040.

Vietnamese real estate developer Geleximco and logistics firm International Transportation and Trading Jsc (ITC Corp) last year had also proposed to invest in this project.