Oct. 21, 2016

PSA extends its network with 18 railway container terminals in China

PSA International (“PSA”) has invested in China United International Rail Containers Co., Limited (“CUIRC”), a Sino-Foreign joint venture. The last company operates 18 railway container terminals according to Chinese government‘s mandate.

PSA has bought Hong Kong-based Luck Glory International Limited and automatically become the owner of 15.33% stake in CUIRC.

So 11 PSA’s costal container terminals are extended with inland CUIRC’s railway terminal facilities in Lianyungang, Dalian, Dongguan, Guangzhou and other places.

Mr. Tan Chong Meng, Group CEO of PSA International, explained that investments in CUIRC would help to grow integrated sea-rail intermodal operations through China which is the biggest economy in the world.

So far no more than 3 % of China’s seaport container volumes are served by railway operators. The statistics are considerably weak than European or American rail sectors do. So PSA’s investments have good prospects especially because of the support with current initiatives ‘One Belt One Road’ and ‘Western Region Development Program.'

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