Peter Baskakov, CEO of JSC TransContainer and Zheng Minli, President of China Railway International Multimodal Transport сo, Ltd. (CRIMT, subsidiary of China Railways) signed a Memorandum on cooperation in transportation of foreign trade containerized cargo across the Russian Federation and the Republic of China, TransContainer informs.
As Peter Baskakov told after the ceremony, within the framework of the Memorandum, it is planned to set up a joint venture to be located in Peking. “The JV will be engaged in development, marketing and sale of a comprehensive service including transportation of containerized cargo between China and Russia for foreign trade companies as well as for forwarding and shipping companies,” Peter Baskakov said. He added that in the nearest future, the parties plan to create a working group to be engaged in organizational work related to establishment of a JV, which is to start operation in the forth quarter of 2008. “Before that both sides are to obtain permits from antimonopoly and other state authorities,” Baskakov noted. He also underlined that such a JV would be a reasonable continuation of the company’s activities aimed at the development of railway transportation between Europe and Asia. “We already have strong ties with European railway companies including the railways of Finland and Germany. Now we are going to have a JV in Asia, which is to play a significant role in development of Europe-Asia transport routes, Baskakov said.