Russian Post, the national postal operator of Russia, and VTB Bank, one of the country’s leading banks, have agreed to establish a joint venture to build 38 logistics clusters throughout Russia.
As RIA Novosti news agency reported, each partner will invest 10,19 billion rubles in the project over the next three years. The corresponding agreement was signed by the parties on the sidelines of the Eastern Economic Forum in Vladivostok.
According to terms of the agreement, the parties set up the National Logistic Technologies JSC with the purpose of implementing the project for the creation of 38 logistics centers throughout the country. Partners will own the joint venture on a parity basis.
“Financing the construction of logistics clusters within the joint venture will be carried out by means of contributing to the charter capital with the simultaneous issue of shares in favor of each of the parties”, the report reads.