PSA has inked an agreement with the German multimodal logistics company duisport to form a joint venture company Multimodal Investments (MIPL) headquartered in Singapore.
The joint venture will invest in multimodal logistics facilities in Asia, enhancing connectivity and trade flows between Europe and Asia.
Through MIPL, duisport will take a stake in PSA’s current investments in China’s multimodal logistics facilities, the Sino Singapore Chongqing DC Multimodal Logistics (SSCDC) in Chongqing, and the China United International Rail Co. (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.”
“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,” said Erich Staake, CEO, duisport.
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