PROJECT INVESTMENT - INVESTMENT COOPERATION BETWEEN SIC AND MIPEC

On December 28, 2017, Vietnam Foreign Trade Freight Forwarding Joint Stock Company signed a contract to transfer shares of Mipec Port Joint Stock Company (MPC) to SCIC Investment Company Limited (SIC).

This is SIC's first project investment opportunity implemented through the form of purchasing shares in a project enterprise. SIC is a major shareholder at MPC and directly participates in business management. MPC becomes an affiliated company of SIC with a capital stock of 500 billion VND.

• Project objective: Investing in construction and business of port receiving ships from 30,000 DWT to 40,000 DWT to reduce load at Dinh Vu; Project implementation location is at Dinh Vu Peninsula, Dong Hai 2 Ward, Hai An District, in Dinh Vu - Cat Hai Economic Zone, Hai Phong City;
• MIPEC's port construction location is located in the industrial economic zone, a large seaport on the Dinh Vu peninsula has been invested in construction, with the ability to combine the exploitation of transport infrastructure, electricity and water supply, communication, ... convenient with quite diverse and rich services, facilitates investment and exploitation in the coming years as well as long term. The construction location is also adjacent to the national fairway, road gateway The sea goes into the Northern region, with a road, rail and sea transport network that has been completely built. This ensures convenient and quick connection between the port and regional provinces.
• Total investment: Total project investment is 1800 billion VND.
• Progress: by the second quarter of 2020, the entire project is expected to be put into operation.