Chinese investors may contribute about 64.8 billion rubles (USD 1 billion) into construction of Primorye-1 and Primorye-2 transport corridors, governor of Russia’s Primorsky Region Vladimir Miklushevsky told TASS.
“Northeastern provinces of China has no exit to the sea and they may export or import goods through Southern China ports only. The distance is several thousand kilometers while the transport leg of the Primorye-1 corridor is 130 km and about 70 km for the Primorye-2 corridor. This is one order less and is beneficial for our partners,” the governor said.
The government support and the capital of Chinese investors will be used in construction of these corridors. “Negotiations with Chinese investors are underway and the shares of government investments and Chinese investments into the Primorye-1 corridor are 55% and 45% at the current stage. The stake of the government may be 70% and Chinese investors may hold 30% accordingly in the Primorye-2 corridor,” Miklushevsky said.
Total investments are estimated at 114 billion rubles (USD 1.8 billion) for the Primorye-1 corridor and 45 billion rubles (USD 730.4 million) for the Primorye-2 corridor.
The Primorye-1 transport corridor will connect Chinese border city Suifenhe, Russia’s Grodekovo railway station, Pogranichny district of Primorsky Region and ports in Eastern Russia.
The Primorye-2 will connect Posyet, Zarubino and Slavyanka ports in the southwestern part of Russia’s Primorsky Region with China’s provinces.
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