Japanese Infrastructure Minister Keiichi Ishii approved the first investment by Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development (JOIN), a public-private organization assisting Japanese construction industry’s overseas business, to develop and operate a terminal in Thi Vai Port in the south of Ho Chi Minh, Vietnam. JOIN will fund 1.2 billion yen of the total 6.5 billion yen value of the project. This will make the first port operation conducted by Japanese company. Operation is slated to begin in 2017.

Japanese steel maker Kyoei Steel and logistics operator Tatsumi Shokai are the co-owner of the project with JOIN. The project site is located next to Phu My Industrial Park, where a subsidiary of Kyoei Steel has a factory. The development is expected to boost supply of construction steel materials in Vietnam. (2015/10/28)