Global EditionASIA 中文双语Français
Home / Business / Companies

Chinese companies buy stake in dry port in Kazakhstan

Xinhua | Updated: 2017-05-15 17:26
Share - WeChat

BEIJING - Two Chinese companies on Monday signed a contract with Kazakhstan's national railway company to buy 49 percent of an inland port near the China-Kazakhstan border.

China COSCO Shipping Corporation and Jiangsu Lianyungang Port Co will each hold 24.5 percent of the dry port located in the Khorgos-East Gate special economic zone, according to a statement from China COSCO Shipping.

The dry port is about 15 km from the Khorgos port in China's Xinjiang Uygur autonomous region on the border of the two countries. From the port, railway cargo can reach Lianyungang in east China's Jiangsu in five days and reach Europe in about 10 days.

Xu Lirong, chairman of China COSCO Shipping, said the dry port is the company's first overseas railway investment project since the corporation was established.

The company aims to build it into an important trade passageway and a model project for China and Kazakhstan under the Belt and Road Initiative.

China COSCO Shipping is a state-owned company set up in early 2016 after the merger of COSCO and China Shipping.

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349