Gemadept resumes construction of Vietnam’s largest deep water port

After 7 years of delay, Gemalink Cai Mep Deep Water Port, which is developed by Terminal Link Cai Mep Terminal JSC, a JV between Gemadept and CMA CGM, was resumed. The port has a total investment capital of USD520 million and spans an area of 72 hectares and an annual capacity of 2.4 million TEUs. Previously, Gemadept and CMA CGM established a JV and construction started in 2010, however, it had to halt two years later due to economic difficulties.

Founded in 1990, Gemadept was one of the first firms to be equitized and listed on the public market. It has set out a list of areas of focus include the development of Nam Dinh Vu port in Haiphong. It continues to expand its port, logistics, warehouse, transportation, and air cargo services to create a complete 3PL logistics and port system.

In July 2018, Gemadept finalised the sale of its 51% stake to an undisclosed South Korean buyer. The transaction value is estimated at over VND104 billion USD4.6 m).
(VNSG)