Local Firm Wants to Take over Nam Can Port

Saigon Times Daily | Fri, Aug 16, 2013 02:23:00 PM Share this on

A local company whose name is not yet revealed has expressed its desire to take over Nam Can Port, which has been inactive for years as its operator is struggling with financial distress, said a senior source from the government of Ca Mau.

Located on the left bank of the Cai Lon River in Ca Mau’s Nam Can District, Nam Can Port was upgraded from a river port to a seaport in 1995 with total investment of over VND111.6 billion. The units under the Ministry of Transport were in charge of design, supervision and execution.

As per the design, Nam Can Port is capable of catering to vessels weighing 5,000-12,000 tons and handling 800,000 tons of cargo every year. After receiving the port from the transport ministry, the government of Ca Mau set up a company to operate the port.

In late April 2006, at the request of Vinashin, the provincial government handed over Nam Can Port to the State-run shipbuilder. When Vinashin ran into troubles, the port was transferred to Vinalines.

The current operator of the port is Nam Can Port Company under Vinalines. An upgrade project worth over VND335 billion suggested by Nam Can Port Company has been granted an investment certificate from the authority of Ca Mau Economic Zone, but so far it has made little progress as the company is facing financial distress.

A leader of the Ca Mau Department of Planning and Investment told the Daily that it was essential that Nam Can Port be put into operation since the province now needed to ship seafood and fertilizers overseas. Currently, these items are transported in container trucks to Saigon Port for export, causing a waste of time and money and causing road damages.

Early this July, the leadership of Ca Mau asked the Prime Minister, the transport ministry and Vinalines to consider transferring Nam Can Port back to the provincial government for operation and investment.

A province-based company has shown its interest in operating and investing in Nam Can Port. When retrieving the right over Nam Can Port, the government of Ca Mau would discuss with this investor the way to accelerate investment in this port, said the source.

When Nam Can Port was established, Ca Mau Province hoped it would serve as an important gateway for export of agro-products. However, the port is now used as a bus station and a place for loading and unloading building materials.

Source: Saigon Times Daily