Soc Trang proposes $762 mln support from central budget to build Tran De port

Authorities of Mekong Delta Soc Trang Province have proposed that  the Government provide an investment support of over VND19.4 trillion ($762 million) from the central budget to build the Tran De seaport.

Tran De Port has an initial investment of more than VND162.7 trillion ($6.4 billion). The project will be divided into two investment phases. The first phase is set to need around VND44.695 trillion ($1.73 billion) and the completion phase needs more than VND118 trillion ($4.67 billion).

The provincial People’s Committee explained that the project has a large investment capital with a slow capital recovery, in addition to a particularly difficult circumstance of the locality where the project will be invested in.

Apart from calling for investment, the province needs capital from the State budget to invest in technical and maritime infrastructure. The financial support from the State will help increase the attractiveness to call for investment from the private sector, according to the committee.

Under the province’s plan, Tran De Seaport will cover 1,400 ha and be able to berth vessels of up to 160,000 DWT and handle 80-100 million tons of cargo a year by 2030.

The port has been added by the Prime Minister to the master plan for the development of Vietnam’s seaports from 2021-2030 with a vision to 2050.