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            august 26, 2019

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Kerry Logistics set up JV with Sitthi Logistics to develop dry port in Laos


Hong Kong's Kerry Logistics Network Ltd has signed a memorandum of understanding between its subsidiary, KLN (Singapore) Pte Ltd and Laos's Sitthi Logistics, paving the way for the establishment of a joint venture to develop a dry port in the Vientiane logistics park in Laos, according to Shipping Gazette.
The move is part of Kerry Logistics' development strategy to grow its business in ASEAN by developing an integrated greater Mekong region platform, encompassing Thailand, Cambodia, Myanmar and Laos.
The dry port will be situated on a site measuring 35 hectares and is to be developed in phases for the transfer of cargo at Vientiane, which connects the railway lines between Kunming, China and Bangkok, Thailand.
An efficient dry port is not only expected to help draw investment to Vientiane and its surrounding areas, but also to transform the city into an economic hub along One Belt and Road (Obor) trade routes.
Chairman George Yeo said: "We at Kerry Logistics are proud to play a role in the development of Laos and what will become an important economic corridor between China and Southeast Asia. We are fortunate to have in Sitthi Logistics a strong local partner. Together with Sitthi Logistics, we will work hard to make the dry port project a success."
Kerry Logistics will provide management expertise, while Sitthi Logistics will provide local support. The facilities will allow the logistics industry to transport goods by road and rail and create an efficient logistics system to accommodate a range of industries and facilitate distribution along the economic corridor between China and Thailand.
To enable the Laotian economy to benefit from the Kunming-Bangkok railway and to fully utilise the plentiful resources and labour available in Laos, the Lao government is introducing economic incentives and conducive regulations for the building of a logistics centre in Vientiane.

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