Israeli container shipping company Zim has signed a joint venture in China for the construction and operation of 18 terminals for cargo trains, parent company Israel Corp. said on Monday.
Zim's stake in the joint venture will be 8 percent or $44 million.
Zim's main partner in the venture, which will be effected in three stages to be completed by the end of 2008, is a government-owned Chinese company that transports containers by trains.
The joint venture also includes strategic partners involved in the manufacturing of containers and infrastructure related to trains and ships, Israel Corp said in the statement.