Danish infrastructure fund manager A.P. Moller Capital has invested in Vietnam-based ALS Cargo Terminal, which operates logistics services at the Noi Bai International Airport, which serves the capital city of Hanoi.
The terminal currently handles up to 250,000 tonnes of cargo annually, with plans to expand to meet growing demand, the investor said in a statement.
The investment was made through its Emerging Markets Infrastructure Fund II (EMIF II), marking the vehicle’s third investment in South and Southeast Asia, where the fund plans to deploy 50% of its capital.
ALS is A.P. Moller Capital’s second investment in the air cargo sector and marks its entry into Vietnam’s transport sector, in partnership with local asset manager VinaCapital.
A.P. Moller Capital and VinaCapital announced their partnership in 2023 to invest in transportation & logistics infrastructure in Vietnam, aiming to build a broader platform strategy in the sector.
Jens Thomassen, Partner at A.P. Moller Capital, revealed that the firm will unlock ALS Cargo Terminal’s potential “through automation and process optimisation, strategic expansion, pricing and contract enhancements, and a strong focus on sustainability and ESG initiatives”.
The investment in ALS reinforces the firm’s interest in Vietnam via its renewables platform Verdant Energy. EMIF II established Verdant Energy last year to back renewables projects with core markets in Vietnam, the Philippines, Thailand, Indonesia, and Malaysia.
Earlier this year, the fund also invested in AC Logistics, a subsidiary of one of the largest conglomerates in the Philippines – Ayala Corporation.
A.P. Moller Capital opened its office in Singapore in 2023 to expand its leadership and experience within transport, logistics and decarbonisation to South and Southeast Asia.
