Business Club September 01, 2010
On August 30th, Shanxi Coal Marketing Group and Shanxi Local Railway Group signed a framework agreement to jointly build a local railway coal transportation system that covers the entire province and operates autonomously to promote the rapid development of modern logistics centers in the Midwest.
According to the agreement, Shanxi Local Railway Group will coordinate the use of existing local railway freight yards in enterprises that have preferentially incorporated the coal logistics system, and provide service agency services that connect with China Railways; Shanxi Coal Marketing Group will step-by-step build, transform and integrate local railways. The project injected capital and gradually promoted equity integration. During the "12th Five-Year Plan" period, the two sides will invest 17.2 billion yuan to build 17 local railways and special coal lines. It is understood that after the completion of the system, it can achieve an annual transportation capacity of 320 million tons, accounting for 2/3 of the province's capacity for transportation.
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