By Kyunghee Park

(Bloomberg) — China’s Cosco Pacific Ltd. pays 125.4 million euros ($143 million) for shares and loans in a container-terminal operator in Rotterdam amid an abroad enlargement drive by Chinese corporations.

Cosco Pacific will purchase 35 % of Euromax Terminal Rotterdam BV for 41.4 million euros and assume 84 million euros of debt equal to 35 % of a mortgage, the Chinese firm mentioned in an announcement late Wednesday. Euromax is not directly owned by Hutchison Port Holdings Ltd., which in flip is owned by Hong Kong billionaire Li Ka-shing’s CK Hutchison Holdings Ltd.

The transfer will assist Cosco Pacific, the container-terminal operator of China’s greatest transport firm, in increasing its operations abroad, the corporate mentioned. China has undertaken a so-called “One Belt, One Road” initiative, a $40 billion technique that goals to strengthen financial and transport ties throughout Eurasia, whereas elevating the world’s second-biggest economic system’s profile as a worldwide energy.

China Cosco Shipping Corp., the nation’s greatest transport firm, makes calls to Rotterdam, Europe’s busiest container port. The Euromax terminal will see its dealing with capability elevated to three.2 million 20-foot containers when the second part of enlargement is accomplished, from the present 2.55 million, based on the assertion. About 2.28 million containers had been processed in 2015.

Cosco Pacific’s terminals dealt with 19.3 million containers final 12 months, 1.1 % greater than in 2014. The firm, which operates most of its container terminal enterprise in China, signed an settlement in March with Singapore’s PSA International Pte. for an funding within the city-state.

The Hellenic Republic Asset Development Fund in February declared Cosco Pacific as the popular investor of a 67 stake in Piraeus Port Authority.

One Belt, One Road is a part of Chinese President Xi Jinping’s efforts to revive the traditional commerce route and finance infrastructure building there. As a part of that technique, the Asian nation has been urging corporations to increase overseas to enhance competitiveness, serving to end in $97 billion of introduced offers within the first quarter.

© 2016 Bloomberg L.P