Investor bids for Danang port

Ocean Mineral Investment Holding Company is seeking approval from Vietnam’s transport ministry to buy all the shares owned by Vietnam National Shipping Lines (Vinalines) at Da Nang Seaport JSC, and develop the facility that sits in the centre of the 4,000 km Vietnamese coastline.

Uptake in port investments has been mooted from non-state run firms for the last 12 months as the nation suffers from excessive port capacity and heavy losses.

Thanh Hoa-based Ocean Mineral Investment has recently put into operation three berths at Nghi Son port, with a total investment capital of VND1.6trn ($71.6m).