MOL invests in logistics projects in Southeast Asia
The infrastructure plan targets markets in Thailand, Singapore, Malaysia and Vietnam, with a focus on advanced warehouses
The first project is under construction in Thailand, with expected completion in 2027
MITSUI OSK Lines announced investments in logistics infrastructure projects in Southeast Asia in collaboration with overseas partners, as part of efforts to diversify its business portfolio.
The joint projects, focusing on multi-tenant advanced automated warehouses, are targeted at Thailand, Singapore, Malaysia and Vietnam, the Japanese shipping giant said.
The partners include Singapore’s CapitaLand Group, one of Asia’s largest diversified real estate groups, Pruksa Holding Public, a real estate developer in Thailand and Ally Logistic Property, a Taiwanese warehouse developer.
Their first project, the OMEGA 1 Bang Na Thailand Warehouse, located in Bangkok and spanning approximately 200,000 sq m, is under construction and is anticipated to be completed by February 2027.
Furthermore, MOL’s subsidiary, Daibiru Corp, has decided to engage in the development of a business park in Chennai, India, by acquiring a 25% stake in the project through a fund led by CapitaLand.
These projects are part of MOL’s Blue Action 2035 initiative to expand its logistics business and move from a regional to a global business structure, the shipping group said.
The Blue Action 2035, a 13-year management plan that sets out the group's vision, aims to reshape MOL’s business portfolio to strengthen stable, profitable businesses and ensure profitability even during ocean shipping recessions.