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Web Terminal System
Yokohama Terminal
July 17, 2019
For the purpose of establishing a joint venture company, we have concluded the JVA (Joint Venture Agreement) with HRC Bangladesh Limited, a holding company of HRC Group, which conducts container ship operation business in Bangladesh on July 14 (Sun) 2019.
We concluded the MOU (Memorandum of Understanding) in September 2014, and the FAA (Friendship Alliance Agreement) in December of the same year. After 5 years, a long-awaited joint venture business has finally come into existence.
We will start the registration processes for the official establishment of the joint venture company soon.
Bangladesh has a population of over 160 million (the 8th most populated country in the world) and maintains the high economic growth rate as a major base of labor-intensive industries, focusing on apparel industry where skilled workers are available at low cost.
On the other hand, there is a strong demand for infrastructure investment, and ODA (Official Development Assistance) related projects by the Japanese government are also developing remarkably. Because of such situation, it is expected that Bangladesh will be receiving much foreign infrastructure investment in the future as well.
Bangladesh has a geographic advantage locating in between India and South-eastern Asia, which can contribute to further expansion of the logistics network services Suzue corporation has built up so far in the areas of far-east, south-eastern Asia, India, Middle-east, Arab countries, and Europe. We decided to establish the joint venture company in Bangladesh to meet the growing logistics needs of the country.
It will be the 21st country of our overseas network.
| Country Name | People's Republic of Bangladesh |
| Type of the contract | JVA |
| Agreement date | July 14, 2019 |
| Name of the joint venture | HRC-Suzue Logistics (BD) Limited |
| Bangladesh side Partner and investor |
HRC Shipping Limited. (Partner) HRC Bangladesh Limited. (Investor) |
| Investment ratio(%) | Suzue Corporation 40% HRC Bangladesh Limited 60% |
| Address of the joint venture | Capital city Dhaka |
HRC Group was founded in 1991 by Mr. Sayeed H. Chowdhury, Chairman & CEO of the group. The company is headquartered in Dhaka, the capital of Bangladesh, and is a company founded mainly in two businesses: shipping and logistics related business and tea export business.
Later, it expanded the range of business with the ocean export business by its own container vessels (HRC Shipping) and the total tealeaf production/supply system (from cultivation to processing, blending, and sales). Today it has become a conglomerate of 30+ affiliated companies, by whom the logistics/forwarding services (including customs clearance), the commercial bank (ONE BANK), the real estate section, the retail distribution section (tealeaf, LED, lights, baby formula, and etc.), and the media section are operated.
Through collaboration with the group, it will be possible to build a system that can meet any logistics demand in any region of Bangladesh.
We will continue to accurately grasp the diversifying customer needs and provide high quality and detailed logistics services.
Signing ceremony
HRC / container ship
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