Unveiling the Remarkable Figures Behind Vingroup’s $14 Billion Mega Project in the City of Red Phoenix

Unveiling a monumental $14.2 billion project, Vingroup spearheads with a $2.13 billion investment, complemented by $12.06 billion in mobilized capital. Spanning an expansive 4,319 hectares, this visionary initiative sets a new benchmark in scale and ambition.

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Vingroup Group has recently released an environmental impact assessment report for the Nam Do Son Port and Logistics Center project.

The project boasts a total investment of VND 373,841 billion (approximately USD 14.2 billion). Vingroup contributes VND 56,076 billion (USD 2.13 billion – 15%), while the remaining VND 317,765 billion (USD 12.06 billion – 85%) will be raised through external funding.

Located in Kien Hai Commune and Nam Do Son Ward, Hai Phong City, the project’s boundaries are defined by the following landmarks:

+ Northwest: Da Do River;

+ South, East, and Southeast: East Sea;

+ West: Van Uc River estuary;

+ North and Northeast: Nam Do Son Ward residential area.

The proposed total area of the project is 4,319.1 hectares, comprising: 1,134 hectares for the port area; 189 hectares for the water area in front of the port; 2,878.5 hectares for the logistics center and warehousing; and 117.6 hectares for the shared main access road.

Project timeline:

– 2025-2026: Pre-investment activities, including seeking approval from Hai Phong City People’s Committee for the investment policy; detailed construction planning at a scale of 1/500; feasibility study report submission and approval (initial phase); environmental impact assessment report; construction design, bidding, and contractor selection; land rental and allocation procedures, etc.

– 2027-2030: Commencement of construction (initial phase) in early 2027, including the development of 2 berths/900md and the port’s backend system; 535.6 hectares of logistics center infrastructure behind the port and approximately 3.9km of shared main access road. Expected operation start in 2030.

– 2031-2035: Construction of an additional 22 berths/9,900 md and the port’s backend system, 1,876.7 hectares of logistics center infrastructure, and approximately 8.1km of shared main access road. Expected operation start in 2033.

– 2036-2040: Construction of an additional 18 berths/8,100 md and the port’s backend system, 466.2 hectares of logistics center infrastructure. Expected operation start in 2038.

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