Phu Quoc Investment and Development Joint Stock Company approved as investor by local authorities.
The Kien Giang People’s Committee has agreed that the investor for the Phu Quoc International Passenger Port is to be the Phu Quoc Investment and Development Joint Stock Company, with construction being performed under the build-operate-transfer (BOT) mode.
The company has investment capital of VND493 billion ($22.9 million), equal to 30 per cent of the project’s total investment. According to provincial leaders the negotiations over the project’s specific terms and content will begin this month.
Kien Giang province has previously approved total investment for the port of over VND1.64 trillion ($76.4 million), to be implemented under the BOT mode and supported by the State budget, with some VND1.51 trillion ($53.5 million).
The Phu Quoc International Passenger Port will be built in Duong Dong town on Phu Quoc Island, with an area of approximately 180 hectares. Work is expected to be completed in 2017. Once going into operation the port will have the capacity to berth vessels of up to 225,000 gross tons.