Irkutsk
Ulan-Ude

Blagoveshchensk
Chita
Yakutsk

Birobidzhan
Vladivostok
Khabarovsk

Magadan
Yuzhno-Sakhalinsk

Anadyr
Petropavlovsk-
Kamchatsky
Moscow

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Partners from Hong Kong invested in the construction of the "Big Port Zarubino"

Ziyavudin Magomedov's Summa group has found a Hong Kong co-investor for the construction of the Big Port of Zarubino in Primorye, Kommersant reports. We are talking about the company China Merchants Holding International (CMHI), which is owned by the Chinese state-owned company China Merchants Group and Goldman Sachs.

The parties have already signed an agreement of intent, under which the Chinese company will become a minority shareholder of the port. Mr. Magomedov did not specify the structure of the transaction and the size of the share repurchased by CMHI, noting that the legal form of the transaction will be determined within three months. In addition, CMHI will provide the port with a cargo base (at the first stage it is four million tons of grain and 500 thousand TEU containers) and will act as a co-investor, says the owner of Summa, without naming the amount of investments. The deal will still be agreed with the government, he added.

The total cost of the project, taking into account the railway and automobile infrastructure and the “dry port” in the Hunchun border, is estimated at $ 3-3,5 billion. The design work is scheduled to begin in February 2015.

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