A Chinese investor from Central China's Henan Province has sealed a deal to buy
Parchim Airport in Germany at a cost of one billion yuan (US$130
million).
It is said to be the first time a Chinese company has wholly
owned an European airport, which is located in Schwerin, not far
from Hamburg and Berlin.
Pang Yuliang, chairman of the board of LinkGlobal Logistics Co
Ltd, beat 10 other global competitors, including FedEx, Hamburg
Airport, and Emirates Airline, in an international tender.
Pang told Economic Daily News: "China's vast logistics
market has attracted Germany which expects to boost its economy
through cooperation with Chinese enterprises.
"The demand of Chinese enterprises for logistic services to
Europe is also huge. If we have our own airport in Europe,
transport costs will be reduced greatly."
According to the deal, LinkGlobal has 100 percent property
rights to Parchim Airport and its facilities, as well as permanent
ownership of land in an economic cooperation zone affiliated to the
airport.
The purchase will help Pang further expand the logistics network
of LinkGlobal, a Beijing-based company. It has a network covering
more than 200 cities in China and about 90 countries worldwide.
However, there are doubts about Pang's ability to pay the agreed
price, and he has remained silent about his company's assets.
But he told Economic Daily News that a Nigerian bank
will vouch for his company, and no domestic banks are involved.
Pang is said to have business relations with Nigeria.
The governments of Henan Province and Zhengzhou - the provincial
capital and Schwerin's sister city, and Zhengzhou Xinzheng
International Airport have signed an agreement with Pang's company
to set up a Zhengzhou-based aviation logistics company.
The company will operate a cargo transport business between
China and Germany, and Pang's company will hold a majority
stake.
(China Daily May 26, 2007)