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

At the signing ceremony - Photo: Vinalines

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 center opposite the grain port, facilitating grain loading, storage, processing and distribution.

Furthermore, Rent-A-Port N.V will possibly join the construction of a 630-meter port in Dinh Vu industrial park, which is currently invested in by Vinalines Dinh Vu JSC. It will also have the option of purchasing 10% of Vinalines’s charter capital when the company becomes privatized 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.

Rent-A-Port's CEO and Deep C Industrial Zones' chairman Marc Stordiau said “With an advanced port infrastructure and logistic system, coupled with considerable management experience and financial capacity, we expect collaboration between the two enterprises will enhance competitiveness and maintain the crucial roles of both sides in marine port and logistic sectors in Vietnam”.

Rent-A-Port is an engineering and investment company, which specializes 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.

Meanwhile, 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.

In Vietnam, with Deep-C Industrial Complex (including cooperation from the Belgian Government, Rent-A-Port has invested US$200 million and it pledged an additional US$250 million in developing port and IZ projects in Hai Phong City and Quang Ninh province within the next 10 years.