Companies news
Transport group CMA CGM launches $1.5 bln energy fund
Reuters, 04 September 2022
PARIS, Sept 4 (Reuters) - French transport giant CMA CGM [RIC:RIC:CMACG.UL] is creating a five-year investment fund of 1.5 billion euros ($1.5 billion) aimed at accelerating its energy transition in shipping and logistics, it said on Sunday.
The fund will support industrial production of new fuels and low-emission transport solutions across the group's businesses, including maritime, overland and air freight shipping and port and logistics services, it said in a statement.
Among other initiatives mentioned on Sunday, the group will develop a biomethane production and liquefaction project to produce up to 100,000 tonnes by 2025, with the possibility of doubling output by 2027, it said.
