KERRY Logistics Network has announced a strategic cooperation agreement with asphalt mixing specialist D&G Technology Holding Co, through an investment in its wholly owned subsidiary Topp Financial Leasing (Shanghai). Kerry Logistics and D&G are listed on the Hong Kong Stock Exchange. The cooperation serves as a first step for the parties to further explore collaboration under the Belt and Road initiative. D&G Technology is engaged in the manufacturing, distribution, R&D and leasing of asphalt mixing plants and the provision of road construction support services, mainly to China, Australia, Russia, South/Southeast Asia, the Middle East and some African countries.
Kerry Logistics plans to provide logistics services to D&G Tech for delivery of products to customers along the Belt and Road trade routes and beef up its operations in the region. "We have been expanding our business across Central Asia and countries in the Commonwealth of Independent States in recent years and believe this collaboration can bring in new business and customers in the region," said Kerry Logistics China & North Asia managing director and executive director Edwardo Erni. D&G Tech's subsidiary Topp Financial Leasing is engaged in finance leasing for asphalt mixing plants and road construction equipment to D&G Tech's customers in China.
Kerry Logistics is shifting 200-300 TEUs per week through its twice weekly train service from Lanzhou to Kazakhstan and Uzbekistan, via either Alashankoy or Khorgos. It is also running a weekly rail freight service from Yinchuan to Kazakhstan and Uzbekistan, handling some 100 TEUs.