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THE CMA CGM GROUP INTENDS TO INVEST $20 BILLION IN AMERICAN LOGISTICS AND MARITIME INDUSTRIES.
DETAIL INFORMATION
TCMA CGM Group announced plans for a significant $20 billion investment into the U.S. maritime and logistics sectors expanding on its previous plans to expand its U.S. port terminals and logistics operations. The announcement came as Chairman and CEO of CMA CGM Group Rodolphe Saadé met with President Donald Trump and alluded to U.S. shipbuilding plans.
Currently, the French business controls seven ports in the United States, including those in Los Angeles, New Jersey, and the Port of New York. Additionally, it is the owner of APL, the old American President Lines that it purchased in 2016 when it bought Neptune Orient Lines.
"We will build a major air cargo hub in Chicago, develop state-of-the-art warehousing across the nation, increase the capacity of important container ports on both coasts, and greatly expand our U.S.-flagged fleet over the next four years," stated Saadé. "With this $20 billion investment in the United States' maritime future and logistics capabilities, I am honoured to strengthen our longstanding relationship with the United States."