Beneficial interest AvH: 72.18%
AvH Contact: Koen Janssen
Rent-A-Port has its own engineering department to support its port and energy-related activities, and hence, it can act as an independent consultant for third parties.
In the area of consultancy, several projects were started up in 2015 for customers in Qatar and Oman and will be completed in 2016. Those projects are mainly related to the feasibility, design, operation and optimization of loading and unloading of gas, liquids and bulk goods (cement, aggregates, coal, iron ore). In mid-2015, several new tenders for consultancy projects were submitted to port authorities in Nigeria, Gabon, Guinea, Namibia, Kuwait and Qatar.
In the field of port investments, there is a twofold growth axis with projects in Oman and Vietnam. The concession for the port of Duqm (Oman) was officially approved in July 2015 by His Majesty the Sultan. It was awarded to P.D.C, a jointly controlled subsidiary of the Omani government and Consortium Antwerp Port, a joint venture between Rent-A-Port and the Port of Antwerp. The usufruct agreement for the equipment and development of industrial land was confirmed in September 2015.
In Vietnam, several industrial sites and the adjoining terminals and jetties have been given in concession for 50 years to Infra Asia Investment, a subsidiary of Rent-A-Port, BMI (Belgian government) and financial partners since December 2014. This project will be fully operational from mid-2017 onwards when the protective dike of Nam Dinh Vu, the bridge to Lach Huyen and the first two port terminals have been completed. Once those three milestones have been reached, those concessions in Vietnam will make a significant contribution to the result of Rent-A-Port.
Rent-A-Port Energy holds stakes in offshore wind farms in Belgium and focuses on several energy storage projects. These projects combine two techniques: pumped hydroelectric energy storage and high-voltage batteries. The first projects are planned and actively prepared in Luxembourg province (Belgium) and in Oman, near the port of Duqm. In October 2015, the Province of Quang Ninh (Vietnam) awarded Rent-A-Port Energy a contract for a feasibility study with an evaluation of the methods and budgets for the remediation of the prestigious Halong Bay in Northern Vietnam. Floating waste has to be collected, brought onto land and converted into energy. This contract has now attracted the attention of several international organizations.
In the consolidated financial statements of AvH, the contributions from Rent-A-Port and Rent-A-Port Energy are restated in order to arrive at a uniform valuation of certain projects throughout the group and to bring it into agreement with the accounting principles used by AvH.