Vingroup will provide VND15 billion (US$690,000) while VND12.561 billion (US$577.8 million) will be allocated from the central budget.
The ship will be able to transport 60 passengers per voyage from Cua Viet (Gio Linh) to Con Co island at 13-15 nautical miles per hour.
The project aims to serve transport demand from the mainland to Con Co island and vice versa, contributing to socio-economic development, security and national defence on the island.
Con Co island district has been established since 2004 as a part of the central province of Quang Tri.