PSA Southeast Asia will sell a 20% stake in Eastern Sea Laem Chabang Terminal (ESCO) to JWD InfoLogistics Public Company Limited.
The transaction is expected to close before the end of the year and will be completed in two stages.
"In a new normal beset by supply chain disruptions, forging close collaborations and partnerships between key supply chain operators have become increasingly important," commented Ong Kim Pong, Regional CEO Southeast Asia, PSA International.
Since 2003, PSA has been a shareholder of ESCO, a container terminal and supply chain operator in Thailand. ESCO operates Terminal B3 at Laem Chabang Port (LCB) and Module B at Lat Krabang Inland Container Depot (LICD), offering logistics services covering container handling, container storage, warehousing, multi-modal transportation and customs clearance.
JWD, an integrated logistics company with a presence in Thailand and Southeast Asia, will work with PSA to develop innovative and sustainable cargo solutions and co-create an Internet of Logistics, a logistics ecosystem of connected and interoperable nodes underpinned by technology initiatives.
The combination of PSA and JWD will elevate ESCO’s unique strategic position as a regional holistic supply chain operator, covering multidimensional and multi-modal flows of physical cargo, digital and financial, said the statement.