PSA Invests in China's Rail Container Terminals
SINGAPORE’s PSA International has taken a 15% stake in China United International Rail Containers, a joint venture that develops and operates 18 railway container terminals in the China,
According to MANA, The deal marks PSA’s first foray into China’s railway container terminal facilities. It already operates 11 coastal container terminals in Dalian, Fuzhou, Guangzhou, Tianjin, Dongguan, Lianyungang and Guangxi Beibuwan.
The rail container terminals are located at regional economic centres across the country to form the core of China’s intermodal transport network. There are currently 10 terminals in operation.
China’s rail container sector carries only 2%-3% of the country’s seaport container volumes, compared with other markets such as Europe and the US, where the rail sector takes up 15%-40% of container volumes.
“The potential for further growth of China’s railway container sector is supported by China’s ongoing initiatives — such as the One Belt, One Road and Western Region Development Program,” PSA said.