Vietinbank Funds Major Hon La Port Project

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Sept. 10 – The Vietnam Industrial and Commercial Bank has agreed to provide a ten year loan of more than VND110 billion to the the Petroleum Technical Services Corporation to develop the Hon La Port located in the central province of Quang Binh.

The loan will improve the facilities of the Hon La Port and allow it to receive cargo vessels of up to 10,000 DWT. The port is also set to have the capacity to manage 1.8 million tons of cargo annually by 2019 as well as be a transit port for 1.4 million tons of cement traveling to Laos reports Nhan Dan.

This is the second phase of the port’s major overhaul plan worth a total of VND 1.3 trillion to become a first class destination.

Hon Lan Port has the advantage of being strategically located for local and international trade. The port is only three kilometers from the national highway, 153 kilometers from the Cha Lo border gate and 301 kilometers from the Laos-Thai border.

In addition, it is within the vicinity of the East Sea international shipping lane and within easy access from the Haiphong and Danang ports.