Shipyard operator Unithai has reached an agreement with its Myanmar partner to establish a joint venture to provide shipping and freight-forwarding services there.
An agreement has been signed with Myanmar's Chin Corp to establish Unithai Chin Corp Logistics (Myanmar) (Unichin) to offer services in Myanmar, said Arthit Pathumsuwan, managing director of Unithai Group.
Chin Corp is a leading conglomerate that has strong partnerships with major international firms in Myanmar. Its partnerships and ventures have enabled the corporation to expand and diversify businesses.
"This venture will enable Unithai and Chin Corp to strengthen their cooperation and collaboration to share experience, expertise and networks to develop shipping and logistics solutions in response to Myanmar's rapid growth in economic and industrialisation," said Mr Arthit.
"The benefits and opportunities to be gained will enhance the growth of Unichin in shipping and related business activities in this region."
Chin Corp chairman Michael Chin said Unithai's expertise in shipping and logistics would yield mutual benefits for the partnership.
For Unithai, this joint venture marks another significant milestone since it expanded logistics operations into Vietnam in 2008 through a joint venture with Tan Cang-Song Than ICD Co, Transport and Chartering Cooperation and Viet Business, and Maruzen Showa Unyu Co to establish Unithai Logistics at ICD Song Than in Ho Chi Minh City.
Unithai represents the IMC Pan Asia Alliance Group, Asia's leading player in the provision of integrated solutions for industrialisation. Its primary businesses are shipping and logistics solutions, shipyard repairs and marine and offshore engineering services.
Chin Corp has developed diverse businesses in sectors such as agriculture, agrochemicals, food, coffee and other beverages, mining, energy resources, property and financial investments.