Global Ports Holding is to run a second key cruise port in Asia.
The independent cruise port operator has signed a 15-year management service agreement for Ha Long international cruise port in Vietnam.
The first purpose-built cruise port in Vietnam recently received a $44 million investment and is capable of handling the world’s largest cruise ships.
The port is expected to handle more than 75,000 passengers tis year, rising to more than 100,000 passengers in 2020.
GPH already operates Singapore’s cruise port and recently expanded its reach into the Caribbean from Europe where it has interests in Spain, Italy, Turkey and Portugal.
The port in Ha Long Bay is part of a large entertainment and recreation complex and is less than 200km away from three international airports.
Its modern infrastructure and geographic position close to China, Hong Kong, Indonesia, Malaysia and Singapore means it is well placed to become a leading transit port in Asia, according to GPH.
Chief executive Emre Sayin said: “This agreement marks a truly historic moment for Global Ports Holding and marks an important inflection point in our growth aspirations in Asia.
“The GPH team very much look forward to working with our partner, the cruise lines and the people of the Quang Ninh Province to turn this iconic location into a leading cruise port in the region.”