Zim invests $44m. in Chinese project

Zim Integrated Shipping Services said Monday it agreed to invest $44 million to set up a joint venture in China.

Zim Integrated Shipping Services said Monday it agreed to invest $44 million to set up a joint venture in China. Zim will establish 18 terminals designated for cargo containers giving it an 8% share in the project. The overall joint venture will oversee the cargo manufacturing and provide the shipping and freight infrastructure for the programs central partner, an unnamed Chinese government company. Zim said it would make its investment payments in three installments until the end of 2008.