CMG plans net­work of ports, ter­mi­nals


China Daily (Canada) - - LIFE - By ZHONGNANin Shang­hai zhong­nan@chi­

China Mer­chants Group said it plans to con­struct key in­fra­struc­ture projects such as spe­cial­ized ma­rine ter­mi­nals in coun­tries along the Belt and Road Ini­tia­tive — in­clud­ing Dji­bouti, Sri Lanka and Be­larus — dur­ing the 13th Five-Year Plan (2016-20).

The Chi­nese con­glom­er­ate’s Chair­man Li Jian­hong said on Wed­nes­day the com­pany will build a live­stock wharf and liq­ue­fied nat­u­ral gas ter­mi­nal in the Port of Dji­bouti.

It is also con­struct­ing ware­houses in Sri Lanka’s Port of Colombo, as well as in­vest­ing $152 mil­lion to build the first phase of a trade and lo­gis­tics park in Be­larus this year.

Un­der the sched­ule, the first phase of the trade and lo­gis­tics park in the Chi­naBe­larus In­dus­trial Park, lo­cated 25 kilo­me­ters from the Be­larus cap­i­tal of Minsk, will be op­er­a­tional by the end of this year.

Li said these moves would help build a com­pre­hen­sive ser­vices plat­form, dom­i­nated by Chi­nese com­pa­nies, in coun­tries and re­gions along the ini­tia­tive route. He said it could help Chi­nese busi­nesses save costs on mak­ing new deals, in cus­toms clear­ance, port ser­vice­sand­mar­itime­and mul­ti­modalCANADA trans­porta­tion.

The trade-and-in­fra­struc­ture net­work — proposed by the Chi­nese govern­ment in 2013 — en­vi­sions a Silk Road Eco­nomic Belt and a 21st Cen­tury Mar­itime Silk Road that cov­ers about 4.4 bil­lion peo­ple in more than 60 coun­tries and re­gions in Asia, Europe and Africa.

CMG will in­vest $500 mil­lion to build the trade and lo­gis­tics park in the Chi­naBe­larus In­dus­trial Park and this year es­tab­lish a lo­gis­tics pas­sage from South China to Cen­tral Asia and Europe, with cargo trains run­ning from China to Europe.

As a State-owned en­ter­prise based in Hong Kong with its main busi­ness in trans­porta­tion, port man­age­ment, fi­nance and real es­tate, CMG’s port as­sets are dis­trib­uted in 16 coun­tries and re­gions. They are in more than 30 ports in key lo­ca­tions along the Belt and Road Ini­tia­tive, such as Nige­ria, Togo, France and Tur­key.

“We are also aim­ing to en­hance the ren­minbi’s sta­tus in in­ter­na­tional cur­rency set­tle­ment through build­ing our first Silk Road hub project in Dji­bouti this year,” said Li. CMG now is the sec­ond-largest share­holder of the Port of Dji­bouti, af­ter it ac­quired a 23.5-per­cent stake in 2012.

CHINA DAILY (ISSN 0748- 6154) is pub­lished daily ex­cept week­ends by China Daily USA, 1500 Broad­way, Suite 2800, New York, NY 10036. Pe­ri­od­i­cal postage paid at New York, NY and ad­di­tional mail­ing of­fices. POSTMASTER: Send ad­dress changes to CHINA DAILY USA, 1500 Broad­way, Suite 2800, New York, NY 10036.

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