US-based General Electric has entered into talks with Beiya Industrial Group on the establishment of a joint venture that will provide a rail freight distribution service, said Homeway Financial News. Total investment in the venture is expected to be Yn500m.
Railway transport accounts for 90 per cent of Beiya’s total business. The group also expects to obtain the rights to operate passenger express trains on trunk lines between Beijing and Guangzhou and Harbin.
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