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395008
Tue, 01/26/2016 - 11:52
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Far East transportation projects could receive Chinese investment - Russia’s Far East Development Minister Galushka

MOSCOW, January 26. /TASS/. Investment projects for transport corridors from Northeast China to the south of the Primorsky region could apply for funding to the Asian Infrastructure Investment Bank, the Eurasian Development Bank, the BRICS New Development Bank and the Silk Road Fund, Russia’s Far East Development Minister Alexander Galushka said in an interview with TASS. "We hope to see the Asian Infrastructure Investment Bank, the BRICS New Development Bank, the Silk Road Fund, and the Eurasian Development Bank participating in these projects," the Minister said. The necessary volume of investment in transport corridors from Russia to China is currently being discussed with the Chinese partners. "All the studies on the numbers I personally handed over to the National Development and Reform Commission of China. We have agreed that by the end of the month we will work on creating a joint working group to study this document," Galushka said. Galushka noted that McKinsey is currently preparing financial and economic model for these corridors. Transport corridor from Heilongjiang Province to Nakhodka, from Jilin Province to Zarubino, as well as a corridor to Slavyanka port are being considered. These ports operate in a porto franco regime (free port regime), which covers 15 districts of the Primorsky region. "We can already see that the cargo base of these projects is significant and amounts to tens of millions of tonnes. This means that the costs that would be required for the formation of transport corridors, will pay off and bring the necessary profitability," Galushka said. Read more

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