The People’s Committee of the southern Vietnamese province of Binh Phuoc held a groundbreaking ceremony on Thursday for the ICD Hoa Lu international inland container depot in Loc Ninh district’s Loc Hoa commune.

Loc Hoa commune lies just south of the Cambodian border in Snuol district’s Pi Thnou commune in Kratie province.

The project is funded by ICD Hoa Lu Co Ltd with a total investment of 379 billion dong ($16.3 million) and will be built in two phases.

In the first phase, the port is designed to handle 200,000-500,000 containers per year. The second phase will increase the capacity to 600,000-900,000 containers per year by 2030.

Using modern technologies, the port is expected to meet demand for customs clearance as well as logistics and warehouse services.

It will create jobs for local workers, thus contributing to local economic development and budget collection.

Upon completion, the port will facilitate trade between Vietnam and Cambodia, Laos and Thailand. VIET NAM NEWS/ASIA NEWS NETWORK