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RZD and the Port of Yingkou Group have an Agreement

President of JSC Russian Railways Oleg Belozerov and Chairman of the Board of the Port of Yingkou Li Hezhong signed a cooperation agreement. The document was signed during the meeting of heads of government of the Russian Federation and the People’s Republic of China.

08 November 2016 Tuesday, 18:25

This agreement is included in the development of the Memorandum of Understanding dated September 3, 2015. The sides regard each other as strategic partners and have expressed interest in forming a basis for cooperation in the field of the joint development and management of logistics centers and international multimodal transport.

In accordance with the agreement, the parties will contribute to the creation of an international terminal and logistics center on the basis of the TLC Bely Rast terminal and logistics center. For this, the Port of Yingkou group of companies will acquire 49% of the share capital of TLC Bely Rast Ltd. as a result of an open tender.

According to the parties, the agreement is a further step towards the creation of an efficient international transport and logistics corridor; increasing trade flows between China, Russia, and countries of Europe; and raising productivity and increasing the efficiency of international transport and logistics companies, as well as cross-border e-commerce, to create new business opportunities and the joint development and use of potential markets in Europe and Asia.

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