Ceremony of awarding funding support contracts and Memorandums of Understanding on investment and development of My Thuy Seaport Project.

Monday - 25/06/2018 22:45
(WEB Quang Tri) On the afternoon of January 30, 2018, RICH & WISE Co., Ltd and My Thuy International Port Joint Venture Company held a ceremony to award funding support contracts and Memorandums of Understanding on investment and development of My Thuy Seaport Project. Participants included Mr. Nguyen Quan Chinh, Member of the Provincial Party Committee, Vice Chairman of the Provincial People's Committee.
My Thuy Seaport Project invested by My Thuy International Port Joint Venture Company includes: Vietnam Construction Service Development and Investment Co., Ltd., Golden Gate Construction Co., Ltd., Rich & Wise Co., Ltd., and L2J Asia Co., Ltd.
The project is developed by 100% equity from sponsorship from Clearbrook Global Advisors and EMP Infra LLC from the US, and PineStreet Infra Co., Ltd. from South Korea.
The main contractor of the project is Daelim Industrial Co., Ltd in Korea and Daewoo Enginneering & Construction in Korea. The scope of investment in deep water port of My Thuy includes 10 berths with a total length of 3.3 km and 1.6 km of breakwaters. The project site is located in the East South Economic Zone in Hai An Commune, Hai Lang District. Total project investment is estimated at 637 million USD. The port is design to accommodate vessels of up to 100,000 tons. The first phase is from 2018 to 2025 and completed in 2036. My Thuy International Seaport Project is one of the important motive projects in Quang Tri East South Economic Zone which was approved by the Prime Minister under Decision No. 42/2015/QD-TTg, dated September 16th, 2015. The project is one of the essential prerequisites for the establishment of the East South Economic Zone as stipulated in Decree No. 29/2008/ND-CP dated March 14th, 2008 of the Prime Minister regulating industrial parks, economic zones.
The implementation of the investment project to build My Thuy Seaport will contribute to strengthening socio-economic development and improving living standards for local people. When the project is put into operation, it will be an important breakthrough in the development of transport, logistics in particular and in the industry of Quang Tri Province in general; contributing to the formation and development of infrastructure such as transport, energy, promoting the regional economy development.
Speaking at the ceremony, Mr. Nguyen Quan Chinh, Vice Chairman of the Provincial People's Committee said that after a period of preparation of the dossier procedures and necessary conditions for submission to the Government for approval, up to now, My Thuy International Project is basically approved by the Government. Mr. Nguyen Quan Chinh, Vice Chairman of the provincial People's Committee assigned the Department of Planning and Investment to review the documents, complete the dossiers of My Thuy International Project, advise the Provincial People's Committee to submit to the Prime Minister for consideration and approval. The Provincial People's Committee is committed to create favorable conditions and apply preferential policies of the Government and the province to effectively implement the project in Quang Tri. Mr. Nguyen Quan Chinh, Vice Chairman of the provincial People's Committee believed that if the My Thuy International Project was implemented, the province would have some advantages, contributing significantly to the socio-economic development of the locality. He also asked the investors to shorten the investment schedule if the government approved the project.
At the ceremony, in the presence of Mr. Nguyen Quan Chinh, Vice Chairman of the Provincial People's Committee and representatives of leaders of related departments, units, My Thuy International Port Joint Venture Company and Rich & Wise Co., Ltd. Korea has signed Memorandums of Understanding on investment in developing My Thuy International Seaport Project.

Author: Pham My Hanh

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