November 21, 06

NEWS / Zim signed an agreemet for a joint venture in China

The Joint Venture plans to invest 2 billion USD in the next few years to build large-scale rail container terminals in 18 selected cities over two phases in China by 2010

Zim Integrated Shipping Service Ltd, signed the agreement with China Railway Container Transport Corp, a unit of China??™s Ministry of Railway (MOR), for a joint venture named ???China United International Rail Container Co. Ltd??? on November, 20th 2006.

The Joint Venture plans to invest 2 billion USD in the next few years to build large-scale rail container terminals in 18 selected cities over two phases in China by 2010.

The 11 cities included in the first phase are: Shanghai, Kunming, Chengdu, Chongqin, Wuhan, Xian, Shenzhen, Qingdao, Dalian, Harbin and Tianjin.

The cities in the second phase are : Zhengzhou, Lanzhou, Shenyang, Guangzhou, Urumqi, Beijing and Ningbo.

The Joint Venture will provide improved service based on the container terminals along the rail links. The type of services intended include: schedule block train services under MOR, container handling, storage, repair, customer declaration, logistics - all related to enhancing the speed of transporting goods across China.

Zim is excited to enter into this Joint Venture. This will greatly expand our business coverage in China from the East Coast to the Middle and West of China.
This Joint Venture will enable Zim to provide comprehensive rail-sea service within inner
China to all over the world.