HA NOI (Biz Hub) — Deputy Prime Minister Truong Hoa Binh on Sunday launched construction on Ha Noi's inland clearance depot, which will be the largest one in the capital.

The construction of the 47.2ha depot will be divided into two stages, with the first one covering 19.2ha and the second one covering 28ha in Gia Lam District's Co Bi Commune.

The first stage, costing nearly VND782 billion (US$35.5 million), is scheduled for completion in the fourth quarter of 2019. Once completed, it will be capable of handling 380,000 twenty-foot equivalent units (TEUs).

The second stage, which costs VND1.78 trillion ($81 million), is designed to handle 760,000 TEUs annually once it is completed in the fourth quarter of 2020.

The project is funded by Hanel One-member Co Ltd and Lang Ha Tower Co Ltd.

The depot will provide hi-tech logistics, support, storage and distributions services for economic and industrial zones in the east of Ha Noi and adjacent provinces, said General Director of Hanel Nguyen Quoc Binh.

The Co Bi Inland Clearance Depot will be situated in a central location between national highways 1 and 5. It will offer handling and storage services to facilitate import and export activities of enterprises in Ha Noi and other cities and provinces in the North before transporting the goods to international borders and sea ports in Hai Phong, Quang Ninh, Lang Son and Lao Cai. — VNS