SITC sets up jv in Thailand

Shanghai: The private Chinese container shipping line, SITC, has announced that SITC Logistics, a wholly-owned subsidiary of the company, has established a jv with Viboon Enterprise to promote and develop logistics services in Thailand.

The jv will be held as to 49% by SITC Logistics and 51% by Viboon Enterprise with a registered capital of THB25m.

The new company will have an operational term of 10 years commencing from the date on the first business license being issued by the Administration Department in Thailand. The principle business of the jv is to promote and develop logistics park services in Thailand. [31/12/14]

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