Maersk, Hateco Sign Vietnam Rail Freight Project Deal
The proposed network will include a rail freight terminal in Haiphong and three container facilities across northern provinces...
A.P. Moller-Maersk A/S, the world’s second largest container carrier, signed an agreement with Vietnamese conglomerate Hateco to develop a railway freight terminal network in Vietnam during President To Lam’s official visit to Denmark.
APM Terminals, the port operating unit of A.P. Moller-Maersk, inked a memorandum of understanding with Hateco in Copenhagen on October 27 to develop a container terminal system, according to a statement from Hateco. The deal takes the total estimated investment in supply chain infrastructure projects in Vietnam by the companies to $2.5 billion to $3.5 billion.
The proposed network, which will include a rail freight terminal in Haiphong and three container facilities across northern provinces, “aims to connect industrial parks, logistics hubs and production zones with major transport hubs,” it said.
President Lam also met other business leaders in the Danish capital, including executives from Lego Group, Carlsberg and Pandora, as Vietnam seeks to attract more investment, technology and expertise, according to the government website. Lam will then travel to Brussels for talks with European Union officials expected to cover trade, energy and education.
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