Macstar Group to invest $6.5bn in new container vessels

Macstar Group Corporation has announced its Board of Directors' resolution to initiate a project for building four new container vessels in 2025. This strategic move involves a total investment of up to VND 160,000,000,000, equivalent to $6.5 billion for four ships, with each vessel costing VND 40,000,000,000. The project will be financed through VND 100,000,000,000 from the company's equity (62.5%) and VND 60,000,000,000 from debt (37.5%).

The shipbuilding project is slated for execution between 2025 and 2026, following the company's additional share issuance to existing shareholders. Funding will primarily come from the capital raised through this issuance. The Board of Directors will also consider utilizing other supplementary capital sources based on operational performance and in scenarios where the share offering is not fully subscribed or extended.

The construction will be undertaken by Song Dao Shipbuilding Industry Joint Stock Company, a related party where Mr. Tran Tien Dung, chairman of Macstar Group's Board of Directors, also serves as chairman. The Board has authorized the general director to oversee implementation, including setting timelines and finalizing contracts within the approved budget.