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Russian Railways sell to Chinese 49% of its logistic center project

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Russian Railways sell to Chinese 49% of its logistic center project

JSC Russian Railways and China Yingkou Port Group Corporation reached an agreement on cooperation, within the framework of which the parties plan to promote dynamic implementation of the project for establishing an international terminal and logistics center on a basis of TLTs Belyi Rast LLC.

“For this purpose, China Yingkou Port Group Corporation will acquire 49 percent of TLTs Belyi Rast LLC following a public tender,” say Russian Railways. At present, the company is 100 percent owned by TLTs Razvitiye, which only shareholder is Russian Railways.

The document was signed on Monday in Saint Petersburg, within the framework of a meeting between the heads of Russian and Chinese governments. The parties see each other as strategic partners and express their interest in joint management of logistic centers and multimodal transport.

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