French Transportation company, Veolia Transportation, has made its way into the Chinese transportation market, by collaborating with Nanjing Zhongbei Group Co Ltd to deal with public transportation, vehicle maintenance and sales of spare parts.
While the agreement is still awaiting approval from authorities,
Zhongbei reportedly plans to sell shares to the equivalent of a 49 per
cent stake in the project to the French firm. Veolia, which will take
on the role of strategic partner to Zhongbei, is said to have come at a
time when transport problems are high on the company’s to-do- list.
Zhongbei is also counting on Veolia for its advanced management
expertise, state media reports.
Veolia currently manages public transportation in more than 5,000 cities in 29 countries globally.
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