The Ca Na Comprehensive Seaport Project Phase 1 is located in Phuoc Diem commune, Thuan Nam district, Ninh Thuan province. It borders the Muine – Ca Na coastal road (Road 701) to the north, the Tru Cape to the east, and the East Sea to the east, west, and south.
The total land area of the project is nearly 172 hectares. Of this, the port planning area accounts for 85.52 hectares (with a land construction area of 47.43 hectares and a water area of nearly 38.1 hectares). The cargo handling capacity is 3.3 million tons per year.
The project comprises 17 berths, with a total investment of over VND 5,600 billion, including all planned items such as berths, rafts, yards, warehouses, auxiliary works, services, technical infrastructure hubs, transportation, and greenery. The first phase involves an investment of VND 2,335 billion, while the second phase is estimated at VND 3,291 billion.
Ca Na Comprehensive Seaport Project Phase 1, Ca Na Port Area 1A. Source: Trungnam Group
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According to the land lease contract signed between the Provincial People’s Committee and Trung Nam Ca Na Company on May 16, 2022, in March 2020, the Provincial People’s Committee revoked the land use rights of Ninh Thuan Salt JSC and leased the land to Ca Na International Comprehensive Port JSC – Ninh Thuan (former name of Trung Nam Ca Na). The leased area is 48,313m2, intended for commercial and service purposes (Ca Na Port area). The rent is over VND 5,727 per sq. m per year (equivalent to nearly VND 277 million per year for the entire land lot) from March 19, 2022, to March 18, 2025, after which the rent will be adjusted. The lease term is 70 years until April 26, 2088.
In December 2022, after the third land revocation, the Provincial People’s Committee and Trung Nam Ca Na Company signed a contract to lease 171,165 sq. m of land for 70 years, until April 26, 2088, for transportation purposes (Ca Na Port area). The rent is nearly VND 9,483 per sq. m per year (equivalent to over VND 1.6 billion per year for the entire land lot) from May 30, 2022, to May 30, 2027, after which the rent will be adjusted.
The project was handed over to Trung Nam after HSG withdrew
Trung Nam Ca Na International Port JSC was established in 2016 under the initial name of Ca Na International Comprehensive Port JSC – Ninh Thuan. Its main business line is investing in river and seaports.
The company’s initial chartered capital was VND 50 billion, wholly owned by Hoa Sen Group Joint Stock Company (HOSE: HSG), chaired by Mr. Tran Ngoc Chu. In July 2020, the company reduced its registered capital to VND 35.5 billion. A month later, in August 2020, the company changed its name to Trung Nam Ca Na International Port JSC, and Mr. Nguyen Tam Thinh became the Chairman of the Board of Directors and legal representative. The post-ownership change shareholder structure showed that Trung Nam Investment and Construction JSC (Trungnam Group, chaired by Mr. Nguyen Tam Thinh) held 51% capital, Mr. Nguyen Ngoc Thao held 24%, and Mr. Tran Duc Chuan held 25%.
| Mr. Nguyen Ngoc Thao is also the Chairman of the Board of Directors of Trung Nam JSC (Trung Nam Land), and Mr. Tran Duc Chuan is the Deputy General Director of Trungnam Group and General Director of Trung Nam Wind Power JSC. |
In February 2021, the company significantly increased its chartered capital to VND 1,121 billion, while the shareholder structure remained unchanged. In mid-2023, the position of Chairman of the Board of Directors and legal representative was transferred to Mr. Nguyen Dao Tuan. In August of this year, the company added Mr. Vu Van Nhuan, the Director of Trung Nam Wind Power JSC, as its legal representative.
Mr. Nguyen Tam Tien, General Director of Trungnam Group, introduces the Ca Na Comprehensive Seaport Project Phase 1
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The Ca Na Port was once part of HSG’s ambitious plan to invest in the Ca Na Steel Project in Ninh Thuan. When preparing to invest in this super project worth USD 10.6 billion, HSG’s Chairman, Mr. Le Phuoc Vu, declared, “It would be stupid not to make steel, stupid not to invest” in mid-2016. However, four years later, HSG liquidated a series of subsidiaries established to implement the Ca Na Steel Project, including Ca Na Ninh Thuan Integrated Steel Mill Complex Investment JSC, Ca Na Ninh Thuan Renewable Energy JSC, Ca Na Ninh Thuan Cement JSC, and Quy Nhon Hoa Sen JSC. HSG also transferred its capital contributions in the sole member limited liability companies of Ca Na International Comprehensive Port JSC – Ninh Thuan and Ca Na Industrial Park Infrastructure Investment JSC. Among them, Hoa Sen Ca Na – Ninh Thuan has been sold to Trung Nam as mentioned above.
Thu Minh
Dragon Capital Foreign Shareholders Sell Additional 2.5 Million HSG Shares
Dragon Capital Group’s affiliate funds have sold 2.5 million HSG shares, reducing their ownership from 11.1% to 10.7% of the charter capital.
