GR Vietnam said that the project’s total investment is estimated at nearly US$170 million (HKD1.32 billion) with 5 percent stake belonging to the firm.

Vietnam Southern Food Corp will own another 5 percent of the project, while the remaining 90 percent stake will remain in the hands of the port’s operator, Saigon Port.

GR Vietnam Executive Director Anthony Lam said that the project will be completed in three or four years. The total capital of the project will increase to US$510 million in three years, of which GR Vietnam will be responsible to contribute a further 5 percent equivalent to US$25.5 million.

When the development project is completed, Hiep Phuoc port will have berths reaching 800 metres in length and a container-handling capacity of 500,000 TEUs (twenty-foot equivalent units).