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VietNamNews

VnSteel plans to divest from port business

Update: October, 10/2015 - 07:57
VnSteel recorded an investment of VND81.2 billion in Thi Vai International Port in the first half of this year. — Photo nld

HCM CITY (VNS) — Viet Nam Steel Corporation (VnSteel) yesterday announced it would sell all its ownership in the Thi Vai International Port Co Ltd for at least VND90 billion (US$4 million).

VnSteel recorded an investment of VND81.2 billion in Thi Vai International Port in the first half of this year.

The Thi Vai International Port Co Ltd was licensed in 1997 but opened in 2014 as an associate between three companies - VnSteel, Vung Tau Shipping and Services Joint Stock Company and the Japan-based Kyoei Steel Ltd.

The port has an important role as it accounts for 60 per cent of container loading capacity in all national seaports. — VNS

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