QUANG Binh Import and Export Joint Stock Company has signed an agreement to set up a joint venture with Transworld GLS Vietnam Ltd, a unit of Transworld Singapore Group. The JV will be branded Transworld QBV ICD (inland container depot). The joint venture will specialise in providing warehouse, loading and unloading, packing and customs clearance services and other services related to road, rail and waterway transportation at Quang Binh – Dinh Vu ICD (inland container depot) in Hai Phong, reported Hanoi’s VN Express. In its first phase, the company will invest in transport and customs clearance services on an area measuring 10 hectares at the ICD. Quang Binh Import and Export is a producer and distributor of fertiliser, chemicals, agro-aqua products, food and beverages, and provides bonded warehouse and yard services, import-export, and import and re-export service. Understanding the importance of Ices in the international logistics and supply chain industry, the company decided to invest in the Quang Binh – Dinh Vu ICD last year. The Quang Binh-Dinh Vu ICD will be developed in three phases, with the first phase including a warehouse capable of handling 100,000 tons of goods per year and yard with a capacity of 250,000 TEU per year. Once completed, Quang Binh-Dinh Vu will be one of the biggest Ices in northern Vietnam. The joint venture with Transworld GLS Vietnam aims to make the operation of the Quang Binh-Dinh Vu ICD more effective. Transworld QBV ICD JSC is looking to develop Quang Binh-Dinh Vu ICD to be an enclosed logistics chain service that entails depot, yard, warehouse, transportation, lift-on/lift-off (LOLO) equipment and auxiliary infrastructure, serving as the biggest transit and customs clearance point in northern Vietnam. Speaking at the signing ceremony, Transworld chairman Mahesh Sivaswamy said: “Starting operation, the Transworld QBV ICD will contribute to cost reduction for enterprises by speeding up and improving efficient clearance service at the port. We engage that the volume of import and export cargo going through our depot is going to significantly increase.” Transworld Singapore is said to be one of the fastest growing companies in Asia and owns 40 containerships and 30,000 containers, including refrigerated containers.