Kerry Logistics has acquired 50 per cent shares in Lanzhou Pacific Logistics (LPL).
The acquisition is part of Kerry Logistics’ plan to expand into rail freight and multimodal services.
“This acquisition will enable us to draw on the vast opportunities created by the Belt and Road Initiative,” said William Ma, group managing director, Kerry Logistics. “Not only will it further strengthen our rail freight capability throughout China and Central Asia, but also allow us to consolidate our expertise in project logistics within our global network.
“It will additionally strengthen the rail and road network we have established in The Commonwealth of Independent States through our new joint venture.”