Preferred bidder selected to build $76mn port on Vietnam's Phu Quoc Island on BOT

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Preferred bidder selected to build $76mn port on Vietnam's Phu Quoc Island on BOT

Vietnam's Kien Giang transport department has selected Vingroup as the preferred bidder for the development of Phu Quoc Island seaport BOT project.

The new facilities will have capacity to harbor ships carrying between 5,000-6,000 passengers plus cargo container vessels. It will be located on a 180-hectare land plot in Duong Dong Town.

The preferred bidder will be responsible for the design, build, finance, operate and maintain the Phu Quoc international passenger port for a period of 30 years.

The total project investment is estimated at VND1.64 trillion (US$74.6 million). Vingroup will provide VND493 billion ($22.4 million) while the remaining VND1.147 trillion (US$52.2 million) will be funded by the state capital.

The project is expected to be operational by 2017.

Phu Quoc is the largest island in Vietnam, its district  includes the island proper and 21 smaller islets. It is expected that about 1-1.2 million tourists visit the island in 2015 and 2-3 million in 2020. According to sources, it has potential to generate gross revenues amounting U$771 million by then.

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