It is reported that Taiwan's petrochemical giant Formosa Plastic Group will build what could be South East Asia's biggest deepwater port to facilitate its USD 19 billion steel and petrochemical complex projects in north central Vietnam.

A spokesman for Formosa Heavy Industries, an affiliate of the group, said that "We are planning to build a deepwater port, which we hope would be the biggest in South East Asia."

Under the USD 1.2 billion plan, Son Duong deepwater port would be able to accommodate vessels with capacity between 200,000 DWT and 400,000 DWT. The port will have a passage way 400 meters wide and 6,748 meters long and in some places, its water depth can reach as much as 24 metres.

Formosa Heavy Industries recently received the green light by the Vietnamese government to build a USD 12.47 billion petrochemical and oil refinery project in Vung Ang Economic Zone, a year after it started building a USD 6.7 billion steel complex next to its planned petrochemical project site.

The Taiwanese company was issued the licence by the Vietnamese government last year to build the steel complex in the economic zone under the condition that it invested in building the Son Duong deepwater port.

The Vietnamese government has hoped that together with the nearby Vung Ang port, the Son Duong deepwater port could create favorable conditions for Ha Tinh to become an important gateway to the sea for north central Vietnam, Laos, Thailand and other countries in the region.

(Sourced from www.monstersandcritics.com)