MSC to invest in Vietnam's 128.872-trillion-dong super port, with 86 billion euros in revenue and 20% of global transport capacity

The Ho Chi Minh City People’s Committee has approved a joint venture involving MSC, the world’s largest shipping line, to invest in the Can Gio International Port project valued at 5 billion USD. The port infrastructure project, located in the southern key maritime hub, will be implemented through cooperation between the foreign partner Terminal Investment Limited Holding S.A (a member of MSC) and two domestic enterprises.

Joint venture structure and investment size

The project has a total investment of 128,872 trillion dong. The foreign partner contributes 49% of the capital, equivalent to about 9,472 trillion dong. The remaining capital is allocated to Vietnam National Shipping Corporation (36%) and Saigon Port Joint Stock Company (15%).

MSC Irina, the Swiss partner’s largest container ship, is currently the largest container vessel in the world, with a length of 399.9 meters and a width of 61.3 meters. The ship’s capacity is 24,346 TEU.

MSC profile and financial capacity

MSC is a privately owned group based in Geneva, Switzerland, founded in 1970. It is the world’s largest container shipping company, with more than 200,000 employees. According to Alphaliner, MSC operates a fleet of around 930 vessels.

MSC was the first company to surpass 7 million TEU, capturing about 18% of the market and approaching 21% of global transport capacity. The group continues to expand with orders for new ships totaling 2.2 million TEU. Each year, MSC’s fleet maintains direct networks to more than 500 ports in 155 countries and handles over 23 million TEU of goods.

In fiscal year 2022, MSC reported revenue of EUR 86.4 billion and net profit of EUR 36.2 billion. The group’s total equity stood at EUR 91 billion, with cash reserves of EUR 63 billion.

Project development roadmap at Can Gio

Funds from the joint venture will be used to develop infrastructure across 571 hectares in Can Gio. The project includes a 7.5-km quay system designed to receive 250,000 DWT container ships.

By 2030, the port cluster is expected to operate with 2 to 4 berths and a capacity of 4.8 million TEU. Throughput capacity is planned to expand to 16.9 million TEU by 2047.

When fully exploited, the project is estimated to generate revenue of 34,000 to 40,000 trillion dong per year.

Conditions set by Ho Chi Minh City authorities

City authorities set conditions to ensure project efficiency. The key requirement is that the partners must disburse at least 50,000 billion dong within the first 10 years. The construction of the entire project must be completed within 20 years.

In addition, the consortium is not allowed to transfer the project during the first 10 years and must ensure the throughput share committed.