Investors selected for $5 bln Can Gio port project in HCM City

The Ho Chi Minh City People’s Committee has formally approved the investor consortium for the Can Gio International Transshipment Port, a mega-project with a total investment capital of nearly VND129 trillion (nearly $5 billion).

The joint venture selected to implement the project includes the Vietnam Maritime Corporation (VIMC), Saigon Port Joint Stock Company, and Terminal Investment Limited Holding S.A (TiL).

The project is planned to span approximately 571 ha with a main wharf length of 7.5 km. Its design capacity is projected to reach 4.8 million TEUs by 2030, eventually scaling up to 16.9 million TEUs by 2047.

In the initial stage, the port will feature two to four berths capable of receiving vessels with a deadweight tonnage of up to 250,000 tons. By 2050, the facility is expected to expand to 13 berths, accommodating the world’s largest container ships as conditions permit.

The entire development is scheduled for completion within 20 years of the land handover, with the first phase aiming to complete at least two berths by 2030. The project has been granted an operational term of 50 years.

The approval decision sets out several strict binding conditions for the investors. Notably, the consortium is prohibited from transferring the project during the first 10 years and must disburse a minimum of VND50 trillion (nearly $1.9 billion) within this period. Should the investors fail to meet capital requirements, progress milestones, or other conditions, they may lose access to preferential investment mechanisms granted under the National Assembly’s special policy framework.

Furthermore, the project must adhere to rigorous environmental standards given its proximity to the Can Gio Mangrove Biosphere Reserve. It is also required to meet strict national defense and security regulations while implementing advanced green and smart port technologies.

Following the Prime Minister's earlier approval of the project's investment policy, the finalization of the investor selection provides the foundation for the city to host a formal kick-off ceremony and officially announce strategic partners on April 30.