A rail network that will transport containers more efficiently and cheaply on mainland China is now taking shape and will eventually be linked to Europe's rail grid, providing competition for shipping lines and road transport companies.
The number of container train stations on the mainland would be increased from one to eight next year, said Tsang Yam-pui, an executive director of NWS Holdings, the listed infrastructure arm of New World Development, the South China Morning Post reported.
NWS owns 22 percent of a joint venture, China United International Rail Containers (CUIRC), which operates the container rail network in the country. The Ministry of Railways owns 34 percent of the venture, while French shipping line CMA CGM, German state rail firm Deutsche Bahnand Israeli shipping line Zim own eight percent each. CIMC and Luck Glory own 10 percent each.
The joint venture was established in 2007 with an investment of US$1.8 billion, to build and operate 18 rail container terminals in the country.
By 2012, a further 10 container train stations will start operation in cities including Shenzhen, Guangzhou, Shanghai and Beijing, tripling the volume of containers transported on rail in the country to 10 million TEUs per year from current levels.
CargoNews Asia
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