Business

Jointly built container port opens in Vietnam’s Haiphong

JIJI

Lach Huyen International Gateway Port, the first infrastructure development project involving the public and private sectors of Japan and Vietnam, has opened in Haiphong, Vietnam

The Japanese government provided about ¥110 billion in soft loans to fund the development of the port and nearby bridge and road infrastructure.

The container terminal is run by a joint venture involving Japanese companies Mitsui O.S.K. Lines Ltd. and Itochu Corp.

Port construction that started in 2013 was also undertaken by a Japanese company.

The Lach Huyen port can accommodate container ships with a carrying capacity of over 100,000 deadweight tons.

During an inaugural ceremony Sunday, Prime Minister Nguyen Xuan Phuc expressed gratitude for Japanese assistance.