The Ministry of Transport has just approved an investment policy to renovate and upgrade the marine fairway to ports in Nam Nghi Son in the central province of Thanh Hoa and the central province of Binh Dinh’s Quy Nhon marine fairway with a total amount of nearly VND1 trillion (US$43.5 million).

The Ministry of Transport emphasised that the renovation and upgrade of the Nam Nghi Son marine fairway will enhance investment attraction, make full use of the seaport infrastructure capacity, and serve the socio-economic development of Thanh Hoa Province and the region.

It is expected that the dredging volume of the project is about 3.5 million cubic metres with a total estimated preliminary investment of more than VND567 billion, using State budget capital in the medium-term public investment capital plan for the 2021 - 2025 period. The expected completion time is 2024.

The Ministry of Transport said the other project would help meet the demand for goods passing through Quy Nhon port area.

The total project investment is expected to be VND421 billion, using the State budget capital in the medium-term public investment capital plan for the period of 2021 - 2025. The project implementation period is from 2021 to 2024.

The Ministry of Transport said that both projects have the Maritime Project Management Board assigned to implement appraisal reports and organise the implementation of next steps to ensure compliance with provisions and laws on construction, bidding and related regulations to ensure the quality, progress and efficiency of the use of project capital. — VNS