A project to build container terminals No 3 and 4 at the Hai Phong International Gateway Port in the Lach Huyen Port area was launched in the northern port city on Wednesday.

With a total length of 750 metres and a width of 50 metres, the two terminals will be able to handle 160 TEU (3,000 DWT) vessels. The project’s total area is 47ha.

Approved by then-Prime Minister Nguyen Xuan Phuc on January 9, 2019, the project is scheduled to be completed in 2024.

With investment from the Hai Phong Port JSC, the project has a total cost of about VND6.94 trillion (US$301.02 million).

Container terminals No 1 and 2 came into operation in May 2018 and have served container vessels and ships with a capacity of a total 1.1 million TEU per year.

From 2020-25, with six container terminals and three general terminals, Lach Huyen Port is expected to be able to receive 4,000 TEU ships and 8,000 TEU container ships.

Hai Phong Port handled 36.2 million tonnes of cargo last year, or more than 40 per cent of the total in the city, earning revenue of more than VND2.19 trillion with a profit of VND700 billion. In the first quarter of this year, it handled 9.3 million tonnes of cargo for VND563 billion in revenue and VND215 billion in profit. — VNS