Bank funds Sai Gon – Hiep Phuoc port
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The Ho Chi Minh based-Maritime Commercial Joint Stock Bank will extend a US$100 million credit to Saigon Port Group to fund the construction of Sai Gon – Hiep Phuoc port in the city’s Nha Be District.
The two signed a deal for the purpose Wednesday.
The 100-hectare port, being built in two phases, will have a 1,800-meter wharf with a capacity to handle 18 million tons of goods a year.
In the first phase, work on which began in May 2009, it will have an 800-meter wharf and a capacity of 8.5 million tons.
The work was expected to finish at the end of this month, but was delayed since a two-kilometer road to the port could not be finished due to lack of funds.
Following the loan deal, Saigon Port Group has said it will be able to finish the whole project by the end of next year.
