A bird’s-eye view of the project. Image source: Vinaconex
In its latest registration update (as of August 7, 2024), International Van Ninh Port Joint Stock Company has increased its charter capital from 500 billion VND to 900 billion VND, with the ownership structure undisclosed. Mr. Tran Ngoc Tuan (born in 1976) is the Director and legal representative of the company.
This move comes as Vietnam Construction and Import-Export Corporation (Vinaconex) has divested its entire stake in International Van Ninh Port.
In June 2024, Vinaconex announced its plan to transfer its entire ownership in the port. Prior to this, the VCG Board of Directors had issued Decision No. 889/2024/QD-HQT approving the capital contribution transfer at Van Ninh International Port.
Specifically, Vinaconex intended to transfer 2 million shares held in Van Ninh Port to interested investors. The transaction was expected to be completed before June 20, 2024, and the reason for the divestment was not disclosed. According to Vinaconex’s consolidated financial statements for Q1 2024, as of March 31, 2024, VCG owned 40% of Van Ninh Port, equivalent to a contribution value of 198.3 billion VND.
International Van Ninh Port is the investor of the Van Ninh General Port Phase 1, which is part of the Van Ninh – Van Gia port cluster in Quang Ninh province.
The project has a total investment of 2,248 billion VND and utilizes 82.79 hectares of land (including 46.55 hectares of land and 36.24 hectares of water surface). The main item is a 500-meter-long main bridge capable of accommodating two 20,000 DWT ships or three 10,000 DWT ships, along with barges at the back.
The project also includes auxiliary works such as wharves, a system of warehouses, an administration building, and roads leading to the port…
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