Mitsui O.S.K. Lines, Ltd. (MOL) has expanded its footprint in Vietnam through an investment in a Ready-Built Factory (RBF) development at Song Khoai Industrial Park in Quang Ninh, marking a significant step in its regional logistics strategy.
The investment is being made via MOL (Asia Oceania) Pte. Ltd., the group’s Southeast Asia and Oceania headquarters, through the CapitaLand SEA Logistics Fund (CSLF), managed by CapitaLand Investment (CLI) of Singapore. The groundbreaking ceremony, held on 16 September 2025, gathered representatives from partner firms and local authorities, underlining the joint commitment to industrial growth in northern Vietnam.
Strengthening Vietnam’s Industrial Infrastructure
The Song Khoai project is positioned as the first of its kind in Vietnam, offering ready-to-use industrial facilities to international and domestic manufacturers. The development will deliver three blocks comprising eight high-specification semi-detached factory units, with a total site area of around 64,000 square meters and a net lettable area of 41,000 square meters.
With an estimated cost of SGD 31.2 million, the project will be completed in two phases. Block 3 is scheduled to open by early 2026, while Blocks 1 and 2 are expected to be operational by January 2027.
These facilities are designed as “plug-and-play” factories, helping manufacturers cut upfront investment costs and reduce the time needed to begin operations. The layout allows for flexibility, with customizable units adaptable to various production models, from light assembly to heavier industrial use.
Quang Ninh’s Growing Role
Located in northern Vietnam, Quang Ninh has seen rising industrial and logistics activity, thanks to its proximity to the Chinese border and access to major seaports. The Song Khoai Industrial Park development is expected to increase the province’s competitiveness by offering modern industrial spaces that address long-standing operational challenges, such as labor availability and supply chain reliability.
The park offers access to a cost-effective labor pool, which is expected to attract manufacturers seeking scalable recruitment opportunities. This focus on workforce development is key for companies planning long-term operations in the region.
Part of MOL’s BLUE ACTION 2035 Strategy
This investment reflects MOL Group’s BLUE ACTION 2035 management plan, which prioritizes stable profit growth beyond its traditional ocean shipping business. A core pillar of the plan is the expansion of logistics and industrial assets under the “Logistics Infrastructure” segment.
Under this initiative, MOL invests in facilities such as warehouses and factories that can be leased to shippers, forwarders, and manufacturers. This approach complements its forwarding services and helps balance revenue streams, especially during downturns in global shipping markets.
The Ready-Built Factory project is led by MOL’s regional organization in Southeast Asia and Oceania, aligning with the company’s broader strategy to shift from a Japan-centric model to a global business structure.
Project Timeline and Specifications
- Location: Amata Song Khoai Industrial Park, Hiep Hoa Ward, Quang Ninh
- Structure: 3 blocks, 8 semi-detached factory units
- Total Site Area: ~64,000 m²
- Net Lettable Area: ~41,000 m²
- Estimated Cost: SGD 31.2 million
- Completion Schedule: Block 3 (early 2026); Blocks 1 & 2 (by January 2027)
Leasing and asset inquiries for the facility are being handled via CLI’s official website.
