Maersk, Hateco Plan $3.5 Billion Vietnam Rail Freight Project

Transportation Maersk and Hateco Plan $3.5 Billion Vietnam Rail Freight Project A.P. Moller-Maersk A/S, the world’s No. 2 container carrier, signed an agreement with Vietnamese conglomerate Hateco to develop a $3.5 billion railway container terminal network in northern Vietnam during President To Lam’s official visit to Denmark. APM Terminals, the port operating unit of A.P. Moller-Maersk, inked a memorandum of understanding with Hateco in Copenhagen on Tuesday to develop a plan for a rail freight terminal, including cargo handling centers, in the port city of Haiphong, according to a statement from Hateco. The proposed network, which will include three other rail freight facilities in northern provinces, “aims to connect industrial parks, logistics hubs and production zones with major transport hubs,” it said.