Transfar to invest over $15b in road networ

Chinese private conglomerate Transfar Group will invest 100 billion yuan ($15.44 billion) to set up a national road network by 2022 to improve the country's logistics efficiency, its chairman told China Daily.

"In five to six years, we will build a national road network covering 170 cities to serve corporate clients and ensure that goods and materials are transported more smoothly," said Xu Guanjun, chairman of Transfar.

Established in 1986, Transfar is a Hangzhou-based company with diversified businesses covering chemicals, logistics, agriculture, technology and investment, and is ranked as a Top 500 Chinese Enterprise.