PSA Northeast Asia Supply Chain (PSA), a subsidiary of PSA International, has signed an agreement with the German multimodal logistics company Duisburger Hafen (duisport), Europe’s largest hinterland hub, to form a joint venture company Multimodal Investments Pte Ltd (MIPL).
In a statement, duisport said the joint venture will be headquartered in Singapore and invest in multimodal logistics facilities in Asia and look to enhance connectivity and trade flows with Europe.
Through MIPL, duisport will take a stake in PSA’s current investments in China’s multimodal logistics facilities, such as the Sino Singapore Chongqing DC Multimodal Logistics (SSCDC) in Chongqing, and the China United International Rail Co. (CUIRC) rail terminal network.
Drawing on the combined supply chain expertise of PSA and duisport, MIPL will develop value-adding services for customers in Europe and Asia, providing them with efficient multimodal, logistics and digital services through Chongqing and the CUIRC rail terminal network.
Tan Chong Meng, Group CEO, PSA International, said, “This partnership with duisport is a groundbreaking opportunity to collaborate more strongly with global customers seeking direct access to both land-locked and maritime markets in Asia.
“We look forward to working with supply chain service providers to develop more physical and digital solutions for product redistribution and returns, enhancing the overall supply chain resilience between inland and sea terminals.”
Erich Staake, CEO, duisport, also commented, “Our joint venture with PSA is a milestone in the history of the Port of Duisburg. It strengthens our market position in Asia and deepens our ties with one of the fastest growing regions in the global economy.
“Our participation in this authoritative network opens up new opportunities for European companies, in particular in markets that were previously closed to them.
“The combination of efficient rail infrastructure and innovative digital services associated with the joint venture is, in my opinion, unprecedented anywhere in the world.
“For our customers and partners, this cooperation offers completely new perspectives – and entrepreneurial opportunities. Multimodal Investments will become one of the decisive growth drivers for rail freight transport between Europe and Asia.”
Chongqing is the largest multimodal logistics hub in Western China, linked by transport services along the International Land Sea Trade Corridor (“ILSTC”) and China-Euro Trade Corridor.
SSCDC is a key joint venture under the Chongqing Connectivity Initiative – Singapore’s third Government-to-Government project with China – developing a 33 hectare multimodal distribution hub connected to Yuzui Rail Terminal, located in Chongqing’s Liangjiang New Area.
CUIRC has a network of 13 railway terminals across China, with its newest terminal located in Qinzhou, a key node for rail-sea multimodal services along the ILSTC.