COSCO invests $110 million in container terminals in Thailand
3 weeks ago
COSCO invests $110 million in container terminals in Thailand
COSCO SHIPPING Ports has acquired a 12.5% equity stake in Thai Laemchabang Terminal (TLT) and a 30% stake in Hutchison Laemchabang Terminal (HLT), solidifying its presence in Thailand's container terminal sector.
The signing ceremony took place in Vietnam on 23 October, with the acquisition valued at approximately $110 million. This investment includes Berth A2 at TLT and Berths A3, C1-C2, and D1-D3 at HLT, with D1-D3 currently under partial construction. Once fully operational, the total annual capacity of these terminals will reach around 6.7 million TEUs.
As the largest terminal operators at Laem Chabang Port located southeast of Bangkok and about 60 nautical miles from the Port of Bangkok TLT and HLT play a crucial role in Thailand’s logistics landscape. Laem Chabang is the country’s largest deep-water port and serves as a vital international container hub, handling approximately 80% of Thailand’s total throughput.
COSCO’s port operations division noted, “With robust support from the Thai government for the development of Laem Chabang Port, we anticipate ongoing infrastructure enhancements, including projects related to the Thailand Eastern Economic Corridor.”
Currently, Laem Chabang Port is the primary port of call for COSCO SHIPPING Lines' dual brands in Thailand. The company believes that this acquisition will further strengthen trade and economic relations between China and Thailand while also optimizing port resource management and enhancing synergies between its shipping and port operations.
Source: Container News