MingZhu Logistics executes on $34M cooperation agreement with Tianfu

MingZhu Logistics has started the execution of a major cooperation agreement with Xinjiang Tianfu, which is expected to generate more than RMB240M – approximately $34M – over the next 12 months in term of revenue for the company. The main cargoes to be consigned will be fine coal and raw coal, with a total cargo volume of 240,000 tons per month. The company entered the cooperation agreement with Tianfu in August 2022. However, the execution of the cooperation agreement has been delayed due to the Covid restriction measures enforced by the government in Xinjiang China. With the recently lift of Covid restrictions, MingZhu has started dispatching its vehicles to Xinjiang and it is expected that 200 vehicles will be put into operation before January 31, 2023. Mingzhu has agreed to undertake the transportation business of bulk coal cargo between Tianfu Yitong’s operations in Gansu, Qinghai and Xinjiang. Tianfu is a comprehensive logistics service provider. Mingzhu provides transportation services for bulk cargo foam coal and raw coal for Tianfu.