NWS to build 18 rail terminals in China
Hong Kong-based NWS Holdings Ltd. has signed a joint venture agreement with a subsidiary of China’s Ministry of Railways and two other parties to develop and manage 18 rail container terminals in major cities across mainland China by 2010.
China United International Rail Containers Co., Ltd. is a 50-year joint venture involving the Ministry of Railways’ unit, China Railway Container Transport Corp. Ltd., which will hold 58 percent control in the enterprise. NWS will own 22 percent with China International Marine Containers (Group) Co., Ltd. and Promisky Investment Ltd. each holding 10 percent.
The estimated total investment of the project is RMB12.0 billion ($1.5 billion) of which 35 percent is registered capital. NWS said the agreement is the first large-scale sino-foreign joint venture entered into by China’s Ministry of Railways.
The 18 terminals will be developed in two phases. The first phases will comprise 11 terminals, including Shanghai, Kunming, Chengdu, Chongqing, Wuhan, Xian, Shenzhen, Qingdao, Dalian, Harbin and Tianjin. The Shanghai terminal is nearly completed while construction has started at the Kunming terminal.
The second batch of seven terminals will include Zhengzhou, Lanzhou, Shenyang, Guangzhou, Urumqi, Beijing and Ningbo. All 18 terminals are planned to be completed by 2010.
“The joint venture will be principally engaged in developing and operating rail container terminals and related businesses by providing one-stop door-to-door logistics services, including container receiving and dispatching, loading and unloading, cargo consolidation, warehousing and storage, container repair, customs declaration, transshipment, clearance and inspection, container trucking, distribution and logistics, international freight forwarding, intermodal transportation and contracting of container block train service,” NWS said in a statement.