DP World has completed the acquisition of Savan Logistics, which operates the Savannakhet dry port in the Savannakhet Special Economic Zone (SEZ) in Laos, the country's first SEZ.
Savan Logistics has been operating the dry port since 2016.
The 140,456 sqm dry port—situated on the West end of the 1,450km-long East-West Economic Corridor linking Laos, Cambodia, Myanmar, Thailand and Vietnam—is utilised by key regional cargo owners and logistics companies to connect various supply chains along the corridor.
It also features 23,000 square meters of warehouse space, including an 11,000 square meter bonded area.
In addition to dry port and warehousing services, DP World will also manage cross-border transport, freight forwarding, and integrated logistics solutions.
Glen Hilton, chief executive officer and managing director of Asia Pacific, DP World, said the move is important for DP World to boost its connectivity in the region.
"The dry port is strategically located close to our existing portfolio of ports, terminals, and landside facilities along the East-West Economic Corridor in Thailand and Vietnam."
"We will extend our expertise and resources to enhance the infrastructure of the dry port, capitalising on its geographical advantages to propel trade forward for our customers. Most importantly, we want to enhance the economic conditions of communities which rely on this vital trade corridor for their daily livelihoods," Hilton added.
According to the Asian Development Bank, Laos' economy is expected to grow by about 4% in 2024, enabled by strategic partnerships and business-friendly policies forged by the government.
DP World noted that this milestone development reinforces its commitment to propelling trade-in and for Asia Pacific by extending its footprint to strategic locations.
In recent weeks, the company announced partnerships with Malaysia's Sabah Ports Sdn. Bhd and Asian Terminals Inc (ATI) to manage Sapangar Bay Container Port in East Malaysia and Tanza Barge Terminal in the Philippines, respectively.