Delegates join the port's groundbreaking ceremony. —VNA/VNS Photo Nguyen Ly

Construction of My Thuy Port, valued at VND14.23 trillion (US$611 million), kicked off in the central province of Quang Tri’s Hai Lang District on Thursday.

More than VND2 trillion will come from the My Thuy International Port Joint Venture Company, while the remainder will be funded by other sources.

Covering 685 hectares in the South-East Economic Zone, the port will have 10 wharves capable of receiving ships of up to 100,000 tonnes. It is expected to significantly contribute to freight transport and economic growth in Quang Tri Province.

It will be divided into three phases with the first from now until 2025 seeing the establishment of four wharves costing nearly VND5 trillion. Another three will be constructed at the same cost during the second stage from 2026-31, and the remaining three, expected to cost more than VND4.3 trillion, will be built in the third stage from 2032-36.

The port will mainly serve the South-East Economic Zone (IZ) and industrial zones in the province, as well as cargo in transit from Laos and the northeast region of Thailand on the East-West economic corridor.

The South-East EZ has been drawing a large number of domestic and foreign investors, with capital amounting to tens of trillions of dong, according to local authorities.

Covering nearly 24,000ha, the zone spreads across 17 coastal communes and towns in Hai Lang, Trieu Phong and Gio Linh districts, driving development in the locality, central region and East-West economic corridor.— VNS