Off the wire
• 3rd LD Writethru: Donald Trump wins U.S. presidential election  • Belgium calls on Trump to defend freedom, tolerance  • 2nd LD Writethru: Brussels presents proposal for new anti-dumping regime  • Norway's PM calls for U.S. leadership in "difficult" issues  • Singapore amends constitution, paving way for first Malay president  • Nine candidates to compete for chairmanship of Indonesian soccer association  • Kenya to focus on Africa to boost exports  • Spotlight: Iran urges Trump to review U.S. Mideast policies  • China, Vietnam conclude joint patrol in Beibu Gulf  • Conditional opening of EU accession talks for Albania: European Commission  
You are here: 　 Home

China, Russia cooperate on logistics center

Xinhua, November 9, 2016 Adjust font size:

A Chinese port and Russian Railways have signed an agreement to jointly develop an international logistics center in the Russian capital of Moscow.

According to the document inked earlier this week, the Yingkou Port Group Corporation will buy a 49-percent stake in the Bely Rast Terminal Logistics Center of Russian Railways.

The two companies will invest a total of 18 billion rubles (283 million U.S. dollars) to build the logistics center into the largest in Moscow, said the agreement.

As part of China's Belt and Road Initiative, Yingkou Port, located in northeast China's Liaoning Province, has railway routes to cities including Moscow and Warsaw, Poland.

The Bely Rast center is a transport hub for 21 container trains running between China and Europe.

The cooperation will boost China's efforts to reinvigorate its northeastern rustbelt provinces of Liaoning, Heilongjiang and Jilin, as well as serve Russia's strategy to develop its Far East, according to Li Hezhong, president of the Yingkou Port Group Corporation. Endi