Related Thai firms get investment infusion

March 12, 2013 | 15:31

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Thailand-based Thoresen Thai Agencies Public Company Limited’s Baconco and Thoresen Vinama Logistic Company inaugurated two expanded facilities in the southern Ba Ria-Vung Tau province’s Phu My I Industrial Park last week.

Thoresen Vinama Logistic Company inaugurated the second phase of its bonded warehouse increasing area of the existing bonded warehouse to 20,000 square metres from its 16,000sqm. The new bonded warehouse will be the biggest and the most modern facility in Cai Mep Thi Vai port area with a designed capacity of 75,000 tonnes of cargo.

At the same time, the other Thoresen subsidiary, Baconco, a producer of pesticide and fertiliser also inaugurated its expanded wrapping manufacturing factory by 50,000sqm bringing the total area of the factory in the IP to 120,000sqm with modern production lines.

Total investment of these two projects is about VND170 billion ($8 million). Thoresen set its foot in Vietnam three years ago and has so far invested nearly $40 million in its Vietnam businesses, which included the Baconco fertiliser factory, a 20 per cent stake in Baria Serece port and the new Thoresen Vinama Logistic Company.

Thoresen said the bonded warehouse in Phu My IP is to address rising the demand for professional logistics services. Baconco, a leading domestic fertiliser manufacturer that Thoresen purchased in 2009, has expanded into warehousing, taking advantage of its prime location near Baria Serece port.

By Nguyen Chung

vir.com.vn

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