Indo-Trans Keppel Logistics Vietnam Co. (ITL Keppel), an associated company of Keppel Telecommunications & Transportation, has formed a joint venture company with Tanimex Group to provide exclusive warehousing and handling services at Tan Binh Logistics Park in Ho Chi Minh City, Vietnam.

The JV company, ITL Keppel Tanimex Logistics Company, to be 80% owned by ITL Keppel and 20% owned by the Tanimex Group, will have a registered capital of US$3 million ($4.2 million) to be contributed by the parties in cash, proportionate to their shareholdings.

The JV company will lease 15,000 sqm of warehousing space from the first phase development of Tan Binh Logistics Park. Keppel T&T says 20% of the space has been pre-committed to customers.

With the addition of these two centres and Tan Binh Logistics Park, ITL Keppel’s managed warehousing capacity has grown more than three-fold to a total of 31,500 sqm.