Toyo Construction Co., Ltd. (President: Kyoji Takezawa) solely received an order for the Lach Huyen Port Infrastructure Construction Project (Port) Packages Contract 8 from the Vietnam Maritime Administration, the Ministry of Transport. The agreement signing ceremony was held on November 30, 2015. Among the yen loans which the Japanese government provides through the Japan International Cooperation Agency (JICA), this project will be carried out under a Special Terms for Economic Partnership (STEP) arrangement. The total amount of the order is approximately \15.1 billion, and the construction period is 915 days. This will be Toyo Construction’s largest scale project in Vietnam to date.
Although a large number of foreign companies, including those from Japan, have expanded the business to the region along the northern coast of Vietnam from Haiphong City and Ha Long City to the capital city Hanoi, Haiphong Port and Cai Lan Port, which have supported these foreign companies, do not have adequate water depths to receive large-scale container ships.
In this project, a new international deep water port which is capable of receiving large-scale container ships will be constructed in the Lach Huyen area in the eastern part of Haiphong City. Improvement of the surrounding basic infrastructure will make it possible to respond to the growth of demand in cargo volume as well as the increase of larger vessels in the maritime transportation market, thereby contributing to economic development and greater competitiveness of northern Vietnam in the international market. This is also the first public-private partnership (PPP) between Japan and Vietnam. In this project, Toyo Construction will be responsible for the upstream navigation channel and anchorage dredging works.
Toyo Construction considers Vietnam to be one of the key countries for its overseas business. Since opening its Hanoi Office in 2004, Toyo Construction has steadily accumulated a track record which now includes port and harbor development works, navigation channel dredging works, plant related construction works, factory construction projects and others. The Company will continue to participate in various types of infrastructure improvement projects in the future, and will transfer technologies which it has developed over the course of many years to Vietnam, in order to contribute to the country’s economic development.
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