“K” Line prepares to establish cold storage JV in Vietnam

Kawasaki Kisen Kaisha (“K” Line) has announced that it is making preparations to establish a new joint venture company for a cold storage business in Vietnam with Cool Japan Fund Inc. and Japan Logistic Systems Corp. The preparations follow confirmation that the new joint venture company has received official approval for the establishment from Vietnamese authorities.

The joint venture company will be called CLK Cold Storage Company Limited and will be assigned $15m of capital in order to provide storage and warehouse services. The long term plan is for the new joint venture company to help develop demand for Japanese food in Vietnam by providing high-quality services.

“K” Line will hold a 25% stake in the venture, with Japan Logistic Systems Corp. holding 26% and Cool Japan Fund holding the remaining 49%.