Vinalines and Belgium’s Rent-A-Port N.V sign cooperation deal

Wednesday, 2017-08-30 17:20:12
 Font Size:     |        Print

At the signing ceremony (Photo: Vinalines)
 Font Size:     |  

NDO/ VNA – The Vietnam National Shipping Lines (Vinalines) and Belgian Rent-A-Port N.V signed a Memorandum of Understanding (MoU), on August 30, on the possibility of cooperating in a grain specialised port, processing zone and logistics system projects in Lach Huyen port and Dinh Vu industrial zone, in Hai Phong city.

Rent-A-Port is an engineering and investment company, which specialises in the development of marine infrastructure and industrial zones worldwide. It offers services ranging from consultancy and full project management to co-investment in marine related projects and industrial zones.

Under the MoU, the two companies will seek collaboration opportunities in a joint venture company to develop a grain handling port in Hai Phong International Gateway Port. They are also keen on another joint venture firm to construct a 250 hectare logistic centre opposite the grain port, facilitating grain loading, storage, processing and distribution.

Along with joining the construction of a 630-metre port in Dinh Vu industrial park, which is currently invested in by Vinalines Dinh Vu JSC, the Belgian enterprise has the option of purchasing 10% of Vinalines’s charter capital when the company becomes privatised in April, 2018.

Thus, Rent-A-Port N.V will attach its long-term benefits to Vinalines, as well as supporting the Vietnamese company in advanced technology transfer, human resource training, financial capacity improvement, business management, service supply and market development.

With an advanced port infrastructure and logistic system, coupled with considerable management experience and financial capacity, collaboration between the two enterprises is expected to enhance competitiveness and maintain the crucial roles of both sides in marine port and logistic sectors in Vietnam.

Vinalines is a leading marine business in Vietnam, especially in port and marine services in Hai Phong city. The firm will make an initial public offering (IPO) in December this year and under the IPO plan, the State will hold 65% of the company’s registered capital of VND 12.3 trillion (US$541.2 million), while it will sell 35% to domestic and foreign businesses.

Vinalines is also allowed to hold 65% of the registered capital at key ports, including Hai Phong, Sai Gon and Da Nang.

Vinalines currently manages a fleet of off-shore vessels with total capacity of nearly two million tonnes, accounting for some 25% of the national fleet’s capacity. It has contributed capital to 14 sea port businesses, which have a total length of more than 13,000 metres, 30% of the total length of ports nationwide. They include a number of deep-water harbours that can receive 190,000 tonne vessels.