China's COSCO to invest in Kazakhstan border project as part of Silk Road drive

  • World Premium
  • Sunday, 14 May 2017

A container ship of China Ocean Shipping Company (COSCO) crosses the Gulf of Suez towards the Red Sea before entering the Suez Canal, in El Ain El Sokhna in Suez, east of Cairo, Egypt April 24, 2017. REUTERS/Amr Abdallah Dalsh

BEIJING (Reuters) - China's COSCO Shipping <601919.SS> plans to invest in a special economic zone on Kazakhstan's border with China as it looks to increase investment in countries involved in the new Silk Road, the company's chairman said on Sunday.

Officially named the Belt and Road initiative, the Silk Road initiative unveiled in 2013 has been touted by China as a way to boost global development through expanded links between Asia, Africa, Europe and beyond, underpinned by billions of dollars in infrastructure investment.

Article type: metered
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In World

Ukraine's Zelenskiy says he would meet with Putin to end the war Premium
Colombia to train Ukrainian military on landmine removal Premium
Ukrainian filmmaker Loznitsa plans documentary on Russia invasion Premium
Turkey logs 2.57 million foreign arrivals in April Premium
U.S. warns companies of 'reputational risks' of doing business in Sudan Premium
U.S. dollar ticks down Premium
WTI crude futures settle modestly higher Premium
Israel raises interest rate for 2nd time in 2 months Premium
Gold rises as U.S. dollar weakens Premium
BRICS ministers urge cooperation on new industrial revolution Premium

Others Also Read