Mitsui O.S.K. Lines, Ltd. (MOL) announced that MOL (Asia Oceania) Pte. Ltd., MOL's regional headquarters for Southeast Asia and Oceania, is taking part in a joint project to develop and invest in several "logistics infrastructure" projects centred on multi-tenant advanced automated warehouses in the Southeast Asia region.

MOL said it is teaming up with CapitaLand Investment Limited, the real estate investment management arm of the CapitaLand Group, one of Asia's largest diversified real estate groups, to invest in the projects through its CapitaLand SEA Logistics Fund (CSLF).

In collaboration with CLI and the partners of CSLF—Pruksa Holding Public Company Limited, a leading real estate developer in Thailand, and Ally Logistic Property Co., Ltd. (ALP), a warehouse developer in Taiwan—MOL (Asia Oceania), will develop and invest in logistics infrastructure projects targeting Thailand, Singapore, Malaysia, and Vietnam.

These projects include high-value-added logistics warehouses centred on the "OMEGA" multi-tenant advanced automated warehouse model developed by ALP. The first project, OMEGA 1 Bang Na Thailand Warehouse, is already under construction.

MOL said CLI and the partners will continue to invest in "logistics infrastructure" to meet market demand in each of their target regions.

Concurrently with this project, MOL Group company Daibiru Corporation has also decided to participate in the development of a business park in Chennai, India, through a fund led by CLI.

The MOL Group and CLI will further deepen their cooperative relationship in a wide range of fields across different regions or asset types.

In the announcement, MOL said under the BLUE ACTION 2035 management plan, the MOL Group has pursued business portfolio reforms to enhance stable profit-earning businesses and ensure profitability even during ocean shipping recessions, and these projects are a part of the initiatives to expand the logistics business, which includes the growth of the logistics infrastructure business.

"In line with the management plan's promotion of regional strategy to shift to a global business structure, these business investment projects are led by the Regional Organization for Southeast Asia and Oceania," MOL said.