Alibaba's delivery arm to build logistics hub in Hong Kong -- Alibaba's delivery arm, Cainiao Network, announced on June 6 that it will lead a joint venture to build a new logistics center at Hong Kong International Airport to enhance its global logistics capabilities. Cainiao Network, China National Aviation Corp, and courier YTO Express will invest 1.53 billion U.S. dollars in the logistics center. The three companies will take a 51 percent, 35 percent, and 14 percent stake, respectively, in the joint venture, YTO Express said in a statement. The center, which will cover an estimated gross floor area of 380,000 square meters, is expected to handle tens of millions of cross-border e-commerce parcels after it opens in 2023. Cainiao said the Hong Kong hub will help achieve its goal of 72-hour global delivery.
China grants permission for first private high-speed railway project -- East China's Zhejiang Province has granted permission for the country's first high-speed railway project undertaken by private company, said the provincial economic planner on June 5. The railway, 226.56 kilometers long and designed for a maximum speed of 350 kmh, is an intra-provincial route connecting Shaoxing and Taizhou. The project is jointly invested by private capital led by Fosun Group, state-owned China Railway, and Zhejiang Communications Investment Group Co. Ltd, as well as the local government. The investment totaled 44.9 billion yuan (7.01 billion U.S. dollars), with private capital led by Fosun Group holding 51 percent of the shares. Fosun Group signed the agreement with the Zhejiang provincial government in September. The railway is expected to be completed in 2021 and will operate for 30 years.
China's Wanfang to establish building materials market in Oman's special economic zone -- Chinese company Oman Wanfang has signed a partnership agreement with two Omani companies to establish a building materials market in the Special Economic Zone in Duqm, local media Times of Oman reported on June 4. The market will be jointly developed by Oman Wanfang, developer and operator of the China-Oman industrial park in Duqm, Al Thabat Holding company, an investment company active in infrastructure activities, and Oman Company for the Development of Special Economic Zone at Duqm. The three companies will establish a joint venture named Duqm Building Materials Market Company, where Oman Wangfang will hold a 51-percent stake. The project includes the development of land, main warehouses, and retail space areas for building material companies from around the world, especially the Middle East and East Africa, to showcase, store, market and sell their products in Duqm. The building materials market, covering an area of 250,000 square meters, is scheduled to start the first phase of construction before the end of this year.
Lingyun Curtain Wall contracted to build curtain wall of Kuwait International Airport -- Lingyun Curtain Wall, a wholly-owned subsidiary of Wuhan Lingyun Building Decoration Engineering Co., Ltd., recently singed a contract for curtain wall construction at the Terminal 2 of Kuwait International Airport, with a contract value of approximately 830 million yuan, said a report from Hubei Daily. The curtain wall project of Kuwait International Airport Terminal 2 includes 78 arched curtain walls and external walls of 30 bridges, with a total area of about 200,000 square meters, which refreshes the scale record of a single project for Lingyun Curtain Wall.
Construction of Thai-Chinese high-speed rail to start fully next year: Thai official -- The construction of a Thai-Chinese high-speed rail between Bangkok and Nakhon Ratchasima in northeastern Thailand is expected to get fully started early next year, following biddings later this year, said Transport Minister Arkhom Termpittayapaisith on June 1. Arkhom said the construction of the main sections of the first phase of the high-speed rail from Bangkok to northeastern province of Nakhon Ratchasima will start in March next year. The entire 253-km route between Bangkok and Nakhon Ratchasima is divided into 14 sections, two of which are considered minor sections located in the northeastern province, including an initial 3.5-km-long section currently under construction between Klang Dong and Pang Asok stations, which started late last year.
Chinese company to invest 1.3 bln USD in Peru's copper mine -- The Aluminum Corporation of China (Chinalco) on June 1 announced plans to invest 1.3 billion U.S. dollars to expand its operations at Peru's Toromocho copper mine. The decision aims to boost the company's capacity to produce and process fine copper, Chinalco's CEO Ge Hongling said during a meeting with Peruvian President Martin Vizcarra at the presidential headquarters in the capital Lima. "By 2020, the annual production capacity will increase 45 percent and the value of annual output will reach 2 billion U.S. dollars, contributing to the creation of more jobs and tax," Ge said. Chinalco, which has been operating in Peru for 10 years, hopes to triple its processing capacity to 157,000 tons a day, and to double its annual output of fine copper to 300,000 tons.
China 22MCC Group signs pre-contract for Russian SIBERWOOD pulp mill project -- China 22MCC Group Co., Ltd. recently signed a pre-contract for SIBERWOOD pulp mill project with Russia Siberwood LLC. The project is located in Krasnoyarskiy Kray of Russia and covers an area of 225 hectares. It is designed with an annual production capacity of 600,000 tons of softwood pulp and 330,000 tons of dissolving pulp. The signing of this pre-contract is a further advancement of the project following the signing of a memorandum of cooperation (MOU) for the project between the two parties on March 15 this year, indicating that the preliminary work has been officially launched. According to the pre-contract, the two parties plan to sign the EPC contract for this project before August 1, 2018, and gradually start the pre-design work and on-site preparations.
CRCC Moscow metro project progresses smoothly -- China Railway Construction Corporation (CRCC)'s metro project in Moscow progressed smoothly with the third shield machine prepared tunneling into the metro tunnel around the middle of this month. The Moscow Metro third interchange southwest section, with a span of 4.6 kilometers, includes main structure of three stations and excavation of four shield intervals. Construction on the project was kicked off in August of 2017. The metro is expected to be open for traffic by 2020. This is the first metro project in Russia with construction undertaken by foreign enterprises, said Xue Liqiang, project manager with CRCC.
Chinese company to conduct feasibility study for Bangladesh's first high-speed railway -- The Bangladeshi government has relied on a Chinese engineering giant to conduct a feasibility study and carry out detailed design for construction of the 230-km high-speed railway from capital Dhaka to seaport city Chittagong, officially known as Chattogram. The proposed Dhaka-Chattogram rail route is set to be the first stretch to be explored for the Bangladesh Railway sector's first high-speed railway project. Bangladesh Railway on May 31 signed an agreement with China Railway Design Corporation (CRDC) to conduct the feasibility study and detailed design. According to the agreement, the feasibility study and detail design work will be completed within 18 months. The Chinese consultant firm, in cooperation with Bangladesh Railway and Mazumder Enterprise, a Bangladeshi consultancy firm, will conduct the feasibility study.
Chinese company completes penetration of longest railway tunnel in Transcaucasia -- The penetration project of the longest railway tunnel in Transcaucasia by a Chinese company was completed on May 27, marking a breakthrough in Georgia's railway modernization program. As the left line was completed, the T9 tunnel of Georgian modernized railway project saw thorough penetration. The project is also an important part of the Chongqing-Xinjiang-Europe railway international transportation corridor under the Belt and Road Initiative. According to engineers for the project, the T9 tunnel, located in the central region Georgia, is over 8.3 kilometers long and it is the longest railway tunnel in Transcaucasia.
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