Vietnam National Shipping Lines (Vinalines) and Belgian company Rent-A-Port have signed a memorandum of understanding to cooperate in building a grain specialised port, processing zone and logistics system projects in Lach Huyen port and Dinh Vu industrial zone, in Hai Phong.
Rent-A-Port is an engineering and investment company, specialised in the development of marine infrastructures and industrial zones worldwide.
The MOU aims to utilise the experience of both parties to promote a transportation link between Vietnam and the EU. The two companies will seek collaboration opportunities in a joint venture company to develop a grain handling port in Hai Phong International Gateway Port.
In addition, Rent-A-Port may participate in Vinalines’ General Cargo Terminal project in Dinh Vu, and may acquire 10 percent of Vinalines’ capital.
“The signing of the MoU with Rent-A-Port today is a proof of Vinalines’ wish to continuously expand our relationship with foreign partners in order to achieve today’s success,” said Nguyen Canh Tinh, CEO of Vinalines.
“The MoU that we are going to sign is the first and also an urgent and important step because if we can cooperate with Vinalines and the government as well as Lach Huyen local authorities, we could immediately bring 4-5m tonnes of rice and grain to the new port, which is a good sign for Vinalines’ IPO in the coming period,” Marc Stordiau, CEO of Rent-A-Port said before the signing.
Vinalines’ IPO is scheduled in December. Following the IPO, the state government will hold 65% capital of the company and the remaining 35% will be offered to local and international investors.