Ocean Mineral Company seeks Vinalines shares

Wednesday, Feb 03, 2016 15:00

A corner of Da Nang Port in the central city of the same name. — Photo danangport.com

HA NOI (Biz Hub) — Ocean Mineral Investment Holding Company has asked the transport ministry to allow it to buy shares owned by Viet Nam National Shipping Lines (Vinalines) at Da Nang Sea Port JSC.

As planned, Vinalines will divest its capital from its subsidiaries including Da Nang Sea Port JSC this year.

In a document sent to the ministry recently, the company expressed its desire to buy the entire shares of Vinalines at the businesses in lots, at the price under the country's regulations.

The company said if it was allowed to buy the corporation's shares at the port, it would focus its investment in developing exploration capacity, reinforcing operation effect and competitiveness of Da Nang Port.

The Ocean Mineral Investment Holding Company, located in central Thanh Hoa Province, has a registered capital of VND560 billion (US$25 million). It has recently put into operation three wharfs 3, 4 and 5 at Nghi Son international port, with total investment capital of VND1.6 trillion ($71.6 million). They were designed to receive vessels with tonnage of 30,000 deadweight and loading and unloading capacity of 4.5 million tonnes per year. — VNS


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