COSCO SHIPPING Ports has secured significant stakes in two major Thai container terminals, investing approximately US$110 million. The company acquired a 12.5% equity stake in Thai Laemchabang Terminal (TLT) and a 30% stake in Hutchison Laemchabang Terminal (HLT). The acquisition agreement was formalized at a signing ceremony held in Vietnam on October 23rd. The investment encompasses Berth A2 at TLT and Berths A3, C1-C2, and D1-D3 at HLT, with the latter three berths at HLT currently under partial construction. Upon full completion and operation, these facilities will boast a combined annual capacity of approximately 6.7 million TEUs. TLT and HLT are the leading terminal operators at Laem Chabang Port, Thailand's largest deep-water port and its primary international container hub, situated southeast of Bangkok and about 60 nautical miles from the Port of Bangkok. This port handles roughly 80% of Thailand's total container throughput. "With the active support of the Thai government in the development of Laem Chabang Port, there will be continued development and expansion of infrastructure projects such as the Thailand Eastern Economic Corridor," stated COSCO's port operating arm in a press release. Currently, Laem Chabang Port serves as the primary port of call for COSCO SHIPPING Lines' dual brands in Thailand. COSCO anticipates that this acquisition will bolster trade and economic relations between China and Thailand, while also enabling COSCO SHIPPING Ports to enhance its port resource allocation and foster deeper synergies.