Bolshoy Zarubino Port Agreement Inked (Russia)

President of Summa Group Alexander Vinokurov and the governor of Jilin Bayin Chaolu have signed a cooperation agreement on the Bolshoy Zarubino Port project in Primorsky Krai. The agreement was signed during Russian President Vladimir Putin’s official visit to the People’s Republic of China (PRC).

Bolshoy Zarubino Port is to be constructed in the Trinity Bay, 18km from the Russian border with China. The port’s turnover will amount to 60 million tons per year (transit, export, import). Project planners anticipate that the port will be used for the transportation of grain, containers, bulk cargo, Ro-Ro units and other goods. Bolshoy Zarubino will be a naturally protected deep water port with year-round navigation (without employing ice-class vessels).

Transit of goods from northern and southern provinces in China will account for 60% of port capacity. Total project investment amounts to over 40 billion RUB. A 100+ ha area has been purchased for the construction of the port.

The parties will collaborate in attracting cargo traffic on mutually beneficial terms and will jointly promote the development of a bilateral corridor with simplified customs procedures.

The agreement states that cooperation on the Bolshoy Zarubino project will contribute to the economic potential development of both the Russian Far East regions and Chinese provinces, and will also help strengthen overall Russian-Chinese relations.

[mappress]

Press Release, May 22, 2014