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China's Antong Holdings lands $297m state funding for logistics programme

ANTONG Holdings has signed an agreement with three Chinese state-run entities Quanzhou Financial Holding Group, Quanzhou Transportation Group and Quanzhou Fengze Investment Group to establish a strategic alliance that will lead to the development a logistics business

China's Antong Holdings lands $297m state funding for logistics programme

ANTONG Holdings has signed an agreement with three Chinese state-run entities Quanzhou Financial Holding Group, Quanzhou Transportation Group and Quanzhou Fengze Investment Group to establish a strategic alliance that will lead to the development a logistics business

30 May 2019 - 19:00

ANTONG Holdings has signed an agreement with three Chinese state-run entities Quanzhou Financial Holding Group, Quanzhou Transportation Group and Quanzhou Fengze Investment Group to establish a strategic alliance that will lead to the development a logistics business.

Under the terms of the accord, the three state-run groups will provide funds of CNY2 billion (US$297 million) to develop businesses, including container logistics, supply chain management, logistics parks, logistics digitalisation and port operations using Antong Holdings' operation platform, reported Singapore's Splash 247.



Antong Holdings is the parent group of Chinese domestic container shipping major Ansheng Shipping and logistics service provider Antong Logistics. It is a leading domestic intermodal container logistics service provider in China, and the 15th largest container shipping operator in the world controlling container capacity of 148,264 TEU, according to Alphaliner rankings.



Last November, the company raised $473 million for the development of two intermodal logistics bases in Tangshan and Quanzhou and the acquisition of twelve 644 TEU feeder vessels.


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