The fast-developing rail freight transport between China and Europe led Duisport and PSA Northeast Asia Supply Chain Pte Ltd to join forces in a joint venture. They sealed an agreement to establish a company under the name ‘Multimodal Investments Pte Ltd’ (MIPL) that will be based in Singapore.

The new company aims to explore new opportunities in the growing Chinese market and invest in Asia’s multimodal facilities. Additionally, it wants to acquire a central role in Eurasian connectivity by buying shares of two major companies: the Sino Singapore Chongqing DC Multimodal Logistics and the China-United International Rail Co.

Added value

The two companies have a successful course over the years, each in its specialisation. However, they both share a common characteristic, that of expertise in the supply chain. Subsequently, their collaboration will add value to the sector while developing efficient services using Chongqing’s rail network.

Regarding the new fruitful partnership, Tan Chong Meng, CEO of PSA International, mentioned that together with Duisport, they have “a groundbreaking opportunity to collaborate more strongly with global customers seeking direct access to both land-locked and maritime markets in Asia”.

On the same wavelength, Erich Staake, CEO of Duisport, commented that the joint venture with PSA is a “milestone in the Port of Duisburg’s history. It strengthens our market position in Asia and deepens our ties with one of the fastest-growing regions in the global economy. The combination of efficient rail infrastructure and innovative digital services associated with the joint venture is, in my opinion, unprecedented anywhere in the world”.

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