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Vinalines sells its shares in Nha Trang Port Company

Update: September, 11/2014 - 08:31
The Nha Trang port. — Photo kieuviet.vn

NHA TRANG (VNS)  — Khanh Hoa's People Committee is granting Vingroup the right to purchase 85 billion dong (US$4 million) of Viet Nam National Shipping Lines' (Vinalines) shares in the Nha Trang Port Company.

The additional capital is expected to help Vinalines with its ongoing re-structuring process. Vinpearl is now working with the Nha Trang Port Company to improve and transition the Nha Trang seaport from a cargo-shipping port into a tourism port-terminal.

This April, Vinalines handed over the seaport to the Khanh Hoa Authority for management so as to better serve the local tourism sector.— VNS

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