Zim investing in Chinese rail improvements
Zim Integrated Shipping Service Ltd is partnering with the Chinese government to build 18 rail container terminals in China.
Zim signed an agreement with China Railway Container Transport Corp., a unit of China's Ministry of Railway (MOR), for a joint venture named China United International Rail Container Co. Ltd.
The joint venture plans to invest $2 billion in the next few years to build large-scale rail container terminals in 18 selected cities over two phases in China by 2010.
The 11 cities included in the first phase are Shanghai, Kunming, Chengdu, Chongqin, Wuhan, Xian, Shenzhen, Qingdao, Dalian, Harbin and Tianjin.
Cities in the second phase are Zhengzhou, Lanzhou, Shenyang, Guangzhou, Urumqi, Beijing and Ningbo.
The joint venture will provide services such as schedule block train services, container handling, storage, repair, customer declaration and logistics.
Zim said the service will expand business coverage in China from the East Coast to the Middle and West of China.