Thoresen Thai Agencies Plc., or TTA, has expanded its operations in southern Vietnam with key clients and stakeholders.
Baconco Co., Ltd. inaugurated its new 13,000 square meter facility, which houses the Company's expanded pesticide business and features additional warehouse space of 6,000 square meters. Simultaneously, Thoresen-Vinama Logistics Co., Ltd. (TVL), a subsidiary of Thoresen-VInama Agencies Co., Ltd. (TVA), opened its 16,000 square meter bonded warehouse in a nearby location.
Baconco and TVL's additional facilities combine to increase their total capacity by 500%, complementing TTA's other investment in the area, a 20% stake in Baria Serece, a deep water port in southern Vietnam (Phu My Port).
The construction of the bonded warehouse facility was completed over a six month period. The bonded warehouse facility is already filled to capacity, and Baconco's additional warehouse expects to receive its first bulk cargo imminently.
"We recognized the potential of the Ba Ria Vung Tau region several years ago and were bullish on its growth, along with the strong overall prospects of the Vietnamese economy," said M.L. Chandchutha Chandratat, TTA's President & CEO. "We have worked diligently over a number of years to develop an excellent platform that leverages TVA's skills and track record. Combined, TVA, TVL, Baconco, and Baria Serece are uniquely positioned to offer a full logistics solution with sea and land transport, warehousing, bagging, forwarding, and customs clearance. We believe that these services will support the continuing expansion of Phu My Port, while offering excellent synergies with many of TTA's other businesses, including Mermaid Maritime and our dry bulk shipping business, both of which regularly use Phu My port and its nearby facilities."
Baconco Co., Ltd. inaugurated its new 13,000 square meter facility, which houses the Company's expanded pesticide business and features additional warehouse space of 6,000 square meters. Simultaneously, Thoresen-Vinama Logistics Co., Ltd. (TVL), a subsidiary of Thoresen-VInama Agencies Co., Ltd. (TVA), opened its 16,000 square meter bonded warehouse in a nearby location.
Baconco and TVL's additional facilities combine to increase their total capacity by 500%, complementing TTA's other investment in the area, a 20% stake in Baria Serece, a deep water port in southern Vietnam (Phu My Port).
The construction of the bonded warehouse facility was completed over a six month period. The bonded warehouse facility is already filled to capacity, and Baconco's additional warehouse expects to receive its first bulk cargo imminently.
"We recognized the potential of the Ba Ria Vung Tau region several years ago and were bullish on its growth, along with the strong overall prospects of the Vietnamese economy," said M.L. Chandchutha Chandratat, TTA's President & CEO. "We have worked diligently over a number of years to develop an excellent platform that leverages TVA's skills and track record. Combined, TVA, TVL, Baconco, and Baria Serece are uniquely positioned to offer a full logistics solution with sea and land transport, warehousing, bagging, forwarding, and customs clearance. We believe that these services will support the continuing expansion of Phu My Port, while offering excellent synergies with many of TTA's other businesses, including Mermaid Maritime and our dry bulk shipping business, both of which regularly use Phu My port and its nearby facilities."
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