Vietnam's Vingroup Plans to build US$14.3 billion port complex in the northern city of Haiphong
The project will consist of three phases and construction will run from 2026 until 2040, the statement said. Vingroup will use its own funds to finance about 15% of the total investment costs and seek external sources to pay for the remaining 85%.
Vingroup's shares rose as much as 6.9% on Monday, the most in three weeks, and were set to end a four-day losing streak. The advance pushed this year's gain to 174%.
The conglomerate has been on an expansion spree in recent years. It broke ground in April on a coastal tourism-urban complex on the outskirts of Ho Chi Minh City with investment capital of around 282.8 trillion dong.
It also plans to develop 25.5 gigawatt-hours of renewable energy and liquefied natural gas power projects by 2030.
Its electric vehicle unit VinFast Auto Ltd. inaugurated a factory in the Indian state of Tamil Nadu with an initial production capacity of 50,000 vehicles on Monday.
-- ©2025 Bloomberg L.P.
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