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Indiaexportnews.com

New World sees investment in China railways as 'cash cow'

  04.09.2009    

Hong Kong's NWS Holding sees its US$1.76 billion China rail container venture as a "cash cow" that will reap rewards from China's enormous spending on railways, says NWS executive director Tsang Yam Pui.
NWS, the infrastructure are New World Development Company, plans to invest CNY1 billion (US$146.4 million) a year in Chinese infrastructure, focussing now on water supply, Mr Tsang told the recent Reuters China Investment Summit.
NWS holds a 22 per cent equity interest in China United International Rail Containers Co, making it the second-largest investor after China's Ministry of Railways (MOR), said the Shipping Gazette.
"For the MOR, this project is a national mission and for us it is a future cash cow," Mr Tsang was quoted as saying. He is said to anticipate the project's internal rate of return will be 15-20 per cent.
With the support of MOR and a total investment of CNY12 billion, NWS anticipates the venture to break even in 2013, a year after all of its 18 terminals are completed.
"For infrastructure projects, once they break even their profit will rise substantially," said NWS general manager Steve To.
NWS Holdings Limited's portfolio includes the management of Hong Kong Convention and Exhibition Centre and ATL Logistics Centre, Hip Hing Construction and NWS Engineering, Taifook Securities and New World Insurance New World First Bus, Citybus and New World First Ferry.


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