PSA enters China’s railway container sector

Singapore-based port operator PSA has invested in a Sino-Foreign joint venture (JV) established to develop and operate 18 railway container terminals across mainland China.

With the investment, PSA became the first global terminal operator owning shares in China United International Rail Containers Co., Limited (CUIRC), which has a mandate from the government of the People’s Republic of China to create the country’s largest inland container terminal network.

The company’s investment in CUIRC, which represents PSA’s first step into China’s railway container terminals market, was carried out through the acquisition of the Hong Kong-based Luck Glory International Limited, which owns a 15.33% stake in the JV.