South Korean logistics company LX Pantos has opened a new rail terminal in Tata, Hungary. It will lease the terminal from Austrian Rail Cargo Group (RCG) for a duration of 10 years. LX Pantos seeks to dive into car battery logistics, for which there is growing demand in Hungary.
The opening ceremony for the terminal took place on Sunday 21 April. LX Pantos received keys to the terminal from RCG representatives. The company will lease the terminal from RCG for ten years, and has the option to extend the lease for another decade.
The terminal, located approximately 70 kilometres southwest of Budapest, occupies a territory of 36,000 square metres and has a storage capacity of 1,450 TEU. It can handle three block trains on a daily basis.
Car battery logistics
According to LX Pantos, the lease of the Tata terminal is “part of a massive infrastructure investment aimed at developing a Europe-wide multimodal logistics network.” The terminal is located close to Europe’s largest battery production hub.
“As the fourth-largest battery production hub globally, following China, Poland, and the U.S., Hungary is emerging as the center of the burgeoning electric vehicle and battery industry in Europe. Accordingly, the region has been experiencing a significant surge in logistics demand, necessitating enhanced railway terminal capabilities to address site limitations and capacity challenges of existing facilities”, LX Pantos says.
With its proximity to various crucial railway corridors, LX Pantos says it is also looking to “develop various railway products to expand its logistics operations across Europe.” It adds: “Specifically, the blueprint involves connecting major inland cities in Europe via the Trans China Railway and launching a new maritime-rail multimodal transportation service from Slovenia’s Port of Koper, a key gateway for Eastern European maritime logistics, to major battery production centers throughout the continent.”
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