PSA International, through its subsidiary PSA Cargo Solutions Vietnam Investments, has acquired a minority stake in Sotrans Group from Indo-Trans Logistics (ITL).
According to PSA, Sotrans is a leading logistics provider in Vietnam. It operates in three main business areas, each held by a subsidiary company: ports/inland container depots and barging; freight forwarding and contract logistics; and transport of heavy lift and project cargo.
The partnership between PSA and ITL leverages Sotrans’ strong presence in Vietnam with its local expertise in logistics, ports, barging, and project cargo, and PSA’s global network of deepsea, rail and inland terminals, affiliated businesses in distriparks, warehouses, logistics and marine services, comprehensive suite of digital solutions as well as global expertise in end-to-end supply chain services.
Zulkifli Bin Baharudin, executive chairman of ITL, said: “PSA’s acquisition of a strategic stake in Sotrans represents confidence in ITL and is an opportunity for us to leverage on PSA’s global network to maximise the growth potential of Vietnam’s port and maritime industry.”