Corrected: Maersk, Hateco sign non-binding agreement on rail freight terminals in Vietnam

AP Moeller - Maersk A/S

Tue 12:23

Corrects fourth bullet point to say the plan will bring the total investments in Vietnam by Maersk and Hateco to between $2.5 billion and $3.5 billion, not that this project alone would amount to "up to $3.5 billion"
HANOI, Oct 20 (Reuters) - APM Terminals, the ports arm of Denmark's A.P. Moller-Maersk MAERSKb.CO, and Vietnam's Hateco Group signed a non-binding agreement to study the development and operation of railway freight terminals in northern Vietnam, the Vietnamese government said on Tuesday.
The agreement was signed in the presence of Vietnam's General Secretary and President To Lam during his visit to Denmark
The companies will study a railway freight terminal in Hai Phong, including cargo-handling and storage facilities, as well as three additional rail freight locations in northern Vietnam, according to a statement on the Vietnamese government portal
The proposed network would connect industrial parks, logistics hubs and manufacturing centres with major transport gateways, forming an integrated rail freight system across northern Vietnam
The plan signed on Tuesday will bring total investments in Vietnam by Maersk and Hateco to between $2.5 billion and $3.5 billion, Maersk said
The project could help ease pressure on road transport, improve freight efficiency and expand options for import-export and cross-border trade, the Vietnamese government statement added
In 2025, A.P. Moller-Maersk and Hateco opened the Hateco Hai Phong International Container Terminal, an around $400 million deep-water container port in northern Vietnam

 (Reporting by Phuong Nguyen. Editing by Louise Heavens)
 ((Phuong.Nguyen@thomsonreuters.com; +84-24-3852-9623;))