FRANKFURT (AFX) - Deutsche Bahn said it has agreed to take an 8 pct stake in an international consortium that intends to develop cargo traffic in China.
It said the consortium will invest 1.2 bln eur in 18 combined traffic terminals in the next five years.
Besides Deutsche Bahn, the Chinese Rail Ministry's subsidiary CRCTC will hold a 34 pct stake, HongKong's investor New World will hold a 22 pct stake, China's Hancai and CIMC a 10 pct stake. France's CMA/CGM and Israel's ZIM will hold an 8 pct stake each in the consortium.
Deutsche Bahn also said that CEO Hartmut Mehdorn, the Chinese Rail secretary Liu Zhijun and Vladimir Jakunin, Russia's RZD state rail company president, signed an agreement of intent to expand rail traffic between China and Europe early this week. newsdesk@afxnews.com jcs/joy COPYRIGHT Copyright AFX News Limited 2006. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
© 2006 AFX News
