China, Russia sign deals for rail and port projects

Chinese company to actualize rail and port projects in Russia, boosting economic ties between two countries

Photo by: Reuters
Photo by: Reuters

Updated Jul 28, 2015

China Railway Construction Ltd (CRCC) has signed a memorandum understanding to build rail and port projects in Russia which was decided on Chinese visit to Russia for marking anniversary of the end of World War Two in Europe, the firm said in statement on Monday.   

China and Russia signed a series of agreement during the Chinese President Xi Jinping’s visit to Moscow to mark anniversary of the end of World War Two in Europe.

China Civil Engineering Construction Corporation (CCECC) and  Russian firm Tuva Energy Industrial Corporation LLC (TEIC) will cooperate for consulting and finding sources from Chinese institutions for projects including a 410 km track across the central southern part of Russia from Elegest to Kuragin.

Another project is about a railway line which will connect the Tuvan Republic, the same area of Russia, to western China, also building a port project in eastern Russia.

CECC said the firms would sign a contract for general contracting when the projects obtained financing, giving no details about what the deals would worth.

Last week, a senior Russian official said his country and China would invest $19.7 billion for a rail link between Moscow and the Russian city of Kazan, giving a deadline by 2020. 

The Russian President Vladimir Putin last week estimated the level of Chinese investment volume would be around 6 billion dollars.

TRTWorld and agencies