CHINA: State railway group China Railway Corp and Hong Kong-based international transport operator MTR Corp signed a letter of intent to explore strategic co-operation ‘within and outside of’ China on December 16, aiming to support the Chinese rail industry’s ‘Go-Global’ strategy.
CRC and MTR are to form a strategic partnership to co-operate in sectors including high speed line construction, rail operations, transport-related integrated property development and staff training. They would enter into separate co-operation agreements as and when decisions were made to proceed with specific projects.
‘This strategic partnership allows us to tap into opportunities arising from the Mainland's Belt & Road strategy’, said MTR Corp Chairman Frederick Ma. ‘There are substantial synergies between our two companies and we look forward to combining our strengths and capabilities to jointly investigate a number of exciting business opportunities in the global rail sector.’