Vingroup to develop $352-million Son Duong international port

On November 21, Ha Tinh Department of Finance granted in-principle approval for the Son Duong international port, which will be invested by Vinhomes Ha Tinh Industrial Park Investment JSC, a member of Vingroup.

Covering an area of 123 hectares in Vung Ang ward, formerly part of Ky Anh township, it includes roughly 36ha for port construction, 81ha of sea area, and over 5.6ha for connecting roads.

The undertaking has a total investment of more than VND8.8 trillion ($352 million), which includes three wharves with a total length of 1,050 metres, capable of receiving 100,000-DWT general cargo and container vessels.

It will also feature warehouses, port service infrastructure, anchorage areas, channels, and turning basins. Its designed handling capacity is around 9.4-11.3 million tonnes per year.

Once completed, the port will serve cargo handling, transportation, and storage needs for Ha Tinh and neighbouring areas. Its operating period is 70 years from the date the investor receives the land allocation decision.

Construction is scheduled to begin in 2026, with completion and commissioning planned for the second quarter of 2028, supporting economic activity, industrial parks, surrounding regions, and Laos.

Son Duong is one of the key deepwater ports in Ha Tinh and the north-central region. It is planned alongside many major industrial projects and functions as a hub for receiving raw materials and transshipping international cargo.

With natural deep-water advantages, proximity to international shipping routes, and connections to the East-West economic corridor, the port is positioned as a foundation for Ha Tinh’s heavy industry, logistics, and seaport services, while expanding import-export gateways for neighbouring provinces and Laos.

Besides that, the implementation of Son Duong international port will contribute to strengthening Vingroup's industrial-logistics ecosystem in the region, creating a chain from production to export.

Vingroup is keen to become a strategic partner in Saigon Port Company Ltd, and Haiphong Port JSC, currently owned by state-run Vinalines.

The developer proposed buying a stake of up to 80 per cent in Haiphong Port at a price not lower than the average auction price.

Vingroup has also proposed to buy an 80 per cent stake at a price not lower than the initial public offering in Saigon Port, and has demanded the right to partake in the company’s equitisation plan.

Vingroup announced the establishment of VinMetal JSC for Manufacturing and Trading on October 6, entering the metallurgy industry and expanding its existing industrial and technology pillar.

Vincom Retail JSC has announced the transfer of its entire capital contribution in Vincom NCT Real Estate Co., Ltd., the owner of Vincom Centre Nguyen Chi Thanh, to Bao Quan Investment, Trading, and Services Co., Ltd.

Billionaire Pham Nhat Vuong has established an aerospace company named VinSpace by contributing VND213 billion ($8.5 million), equivalent to 71 per cent of the company's capital.

Vingroup announced the addition of Culture as a new core pillar, alongside Industrials & Technology, Real Estate & Services, Infrastructure, Green Energy, and Social Philanthropy.

yet updated information about these two deals.