DP World Acquires Savan Logistics
DP World has completed the acquisition of Savan Logistics, which operates the Savannakhet dry port in the Savannakhet Special Economic Zone (SEZ) in Laos, the first SEZ in the country. Savan Logistics has been operating the dry port since 2016.
Situated on the West end of the 1,450km-long East-West Economic Corridor – linking Laos, Cambodia, Myanmar, Thailand, and Vietnam — the 140,456 sqm dry port is utilized by key regional cargo owners and logistics companies to connect various supply chains along the corridor. It also boasts about 23,000 sqm of warehousing facilities, including an 11,000 sqm bonded area.
In addition to dry port and warehousing services, DP World will also manage cross-border transport, freight forwarding, and integrated logistics solutions.
DP World Expands in Asia Pacific
Glen Hilton, CEO & Managing Director, Asia Pacific, DP World, said: “This is an important move for us to boost the connectivity of the region. The dry port is strategically located close to our existing portfolio of ports, terminals, and landside facilities along the East-West Economic Corridor, in Thailand and Vietnam. We will extend our expertise and resources to enhance the infrastructure of the dry port, capitalizing on its geographical advantages to propel trade forward for our customers. Most importantly, we want to enhance the economic conditions of communities that rely on this vital trade corridor for their daily livelihoods.”
According to the Asian Development Bank, Laos’ economy is expected to grow by about four percent in 2024, enabled by strategic partnerships and business-friendly policies forged by the government. The country’s chairmanship of the ASEAN summit is also expected to provide Laos with additional international exposure, promoting investment and spurring cross-border cooperation with its neighbors.
This milestone development reinforces the commitment which DP World has, to propel trade in and for Asia Pacific by extending its footprint to strategic locations. In recent weeks, the company announced partnerships with Malaysia’s Sabah Ports Sdn. Bhd and Asian Terminals Inc (ATI) will manage Sapangar Bay Container Port in East Malaysia and Tanza Barge Terminal in the Philippines, respectively.
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Source: dpworld
