The Cai Mep-Thi Vai International Port was inaugurated Monday during a ceremony attended by the Ministry of Transport and the Japan International Cooperation Agency (JICA)
The deep-sea port, which received investment from the transport ministry, broke ground in late 2008 and cost VND12,891 trillion ($619.76 billion), an amount provided by the JICA and reciprocal capital from the Vietnamese government.
The port, based in Tan Thanh District, has two docks capable of receiving container ships with a loading capacity of 100,000 DWT, and cargo ships of 500,000 tons. DWT, or deadweight tonnage, is a measure of how much weight a ship is carrying or can safely carry.
Its two terminals are also capable of serving 700,000 TEUs and up to 2 million tons of cargo a year. A TEU represents the cargo capacity of a standard intermodal container 20 feet.
"The Cai Mep - Thi Vai port will boost the development of the southern key economic zone," Deputy Prime Minister Hoang Trung Hai remarked at the ceremony.
The port will also help reduce pressure on the ports in Ho Chi Minh City, and contribute to the long-term plan to relocate the ports on the Saigon River and the Ba Son shipyard, he added.