Ba Ria-Vung Tau halts delayed port project

Friday, Aug 30, 2019 18:11

Cai Mep Thi Vai Port in Ba Ria Vung Tau Province. This province has halted operation of My Xuan Port due to slow construction. — Photo

The People's Committee of Ba Ria-Vung Tau Province has decided to stop operation of the My Xuan General Port project in My Xuan Ward, Phu My Town, due to slow construction.

The provincial People's Committee has requested Hong Quang Construction and Real Estate Investment JSC, an investor of the project, complete procedures to end the investment project in accordance with existing regulations.

The My Xuan International General Port project has not yet completed site clearance and has not secured land use right certificates. Development is lagging eight years behind schedule due to the investor's inability to provide adequate capital.

Therefore, the Department of Planning and Investment proposed the provincial People's Committee consider revoking the investment licence.

The port was granted an investment certificate on March 18, 2010 by the provincial People's Committee. With a total investment of US$447 million, the project was expected to have four wharves and the capacity to receive four million tonnes of cargo per year. — VNS

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