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Friday,  Nov 24,2017,03:30 (GMT+7)

Vinalines, Rent-A-Port ink logistics deal

Thuy Dung
Thursday,  Aug 31,2017,22:56 (GMT+7)
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Vinalines, Rent-A-Port ink logistics deal

Thuy Dung

Representatives of Vinalines and Rent-A-Port N.V. sign a cooperation MOU on August 30 - PHOTO: THUY DUNG

HANOI – Vietnam National Shipping Lines (Vinalines) and Belgium’s Ren-A-Port N.V. signed a memorandum of understanding (MOU) on August 30 to jointly develop port and logistics projects in the nation.

Vinalines and the Belgian firm plan to build a grain terminal, a grain processing facility and a logistics section in Lach Huyen and a general cargo terminal in Dinh Vu area in Haiphong City.

Both sides will jointly explore the possibility of cooperation in three main areas. The first partnership is expected to be a joint venture for developing a grain terminal in the area of Haiphong International Gateway Port (Lach Huyen).

Besides, the two partners will form another joint venture to develop a logistics hub of around 250 hectares to optimize the handling, storage, processing and distribution of grains.

According to the MOU, Rent-A-Port N.V. would participate in the 630-meter general cargo terminal project in Dinh Vu. This project is invested by Vinalines Dinh Vu, in which Vinalines is holding a 51% stake.

Vinalines’ initial public offering in December will convert the firm into a joint stock company as of April 2018. The State will hold 65% of Vinalines’ chartered capital, while the maximum 35% will be offered to local and international investors.

Vinalines will also hold majority stakes in 11 ports, including a 65% interest in Haiphong Port, Saigon Port and Danang Port. With the MOU in place, Rent-A-Port N.V. might conduct an acquisition of 10% of Vinalines’ chartered capital upon its equitization.

As a long-term partner of Vinalines, Rent-A-Port N.V. will support Vinalines in new technology transfer, human resource training, financial improvement, administration, service rendering and market expansion.

Rent-A-Port N.V. is the port-related investment and management arm of the Belgian Holding Ackermans & van Haaren, which was founded in 1885 and is one of the largest listed holding companies of Belgium, with its assets totaling 2.7 billion euros.

Speaking at the MOU signing ceremony, Belgium Ambassador to Vietnam Jehanne Roccas said Rent-A-Port N.V. is the third largest foreign-invested company in Haiphong City. The deal will strengthen bilateral trade between the two countries, especially at a time when the two countries are preparing to celebrate 45 years of bilateral cooperation in 2018.

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