News

Ba Ria-Vung Tau licenses US$165 million port project

(VnEconomy) The People's Committee of the southern coastal province of Ba Ria-Vung Tau has given a nod to a US$165 million project to build an international port on the Thi Vai River. The SP-SPA international port, invested by the SP-SPA Ltd. Co, will be built at the Cai Mep estuary of the river in Tan Thanh district. Upon its completion, the port is capable of handling around two million TEUs (Twenty-foot Equivalent Units) of cargo per year. The Thi Vai-Cai Mep area is home to scores of projects on deepwater ports approved by the Prime Minister in May, 2005. Some 15 out of 20 projects are currently underway.