China Shipping-Jumboheavy Lift Co, a Sino-Dutch joint venture to transport large and heavy items,was set up Thursday in Shanghai.
The joint venture was set up by China Shipping Group and JumboShipping S.A. of Holland, an international shipping company specializing in shipping super-large and heavy items.
The Dutch company, which was founded 30 years ago, owns 11 ships with hoists capable of lifting up to 1,000 tons.
China Shipping Group has been the sole carrier of the German-produced equipment for the magnetic levitation train project.
The company has shipped the 4.6 billion yuan worth of equipment, including rails, carriages, cables and transformer equipment from Germany to Shanghai, where the country's first magnetic levitation train project is underway.
(Xinhua News Agency April 19, 2002)
