CMG Silk Road Center to settle in ITL Park
China Merchants Group (CMG), a Fortune Global 500 company specializing in industry and commerce, is expected to settle its Silk Road Center and supporting facilities in Xi'an International Trade and Logistics (ITL) Park, with a total investment of nearly 10 billion yuan ($1.48 billion).
A design sketch of the CMG Silk Road Center. [Photo/itl.gov.cn]
The two sides will sign a cooperation agreement at the Fourth Silk Road International Exposition, which will be held in Xi'an from May 11 to 15.
The project will improve the urban supporting functions of the surrounding area of Xi'an Olympic Sports Center, and includes offices, hotels, and commercial blocks.
CMG and ITL Park began cooperation in the construction of a multimodal logistics channel in 2015 since the China-Europe Chang'an China Merchants Logistics freight train started operation.
According to He Junli, general manager of Xi'an Company of China Merchants Shekou Holdings, the preparatory work has basically been completed, and the main building will be put in use before the 2021 National Games held in Xi'an.
In the future, CMG will cooperate with ITL Park to regularly operate the China-Europe freight train, promoting Shaanxi's enterprises in its efforts to expand in overseas markets and contributing to the goal of the freight train making 1,800 trips in 2019.