China and Russia signed an agreement on the construction of railroad transit complex at the Nizhny Leninskoye-Tongjiang border crossing- Guangdong Association for the Promotion of Trade with Russia

According to the information of the Russian Exhibition Foundation, during the Eastern Economic Forum the Russian company United Oil and Gas and the Chinese company Regulus Group Industrial Development signed an agreement on the construction of the “Union” cross-border railroad transit complex near the Russian-Chinese Nizhniy Leninskoye-Tongjiang border crossing, which will ensure the delivery of goods to China, as well as to the Russian Federation. The agreement was signed by the Russian presidential adviser, the preparatory committee for the Eastern Economic Forum.
Anton Kobyakov, Advisor to the President of the Russian Federation, Executive Secretary of the Organizing Committee for the preparation and holding of the Eastern Economic Forum, said that the project will make it possible to carry out a number of tasks in the sphere of strengthening economic cooperation with China and development of the Far East. According to him, the project will ensure uninterrupted and reliable delivery services to the final consignees in China under long-term contracts. “The Union transshipment complex will ensure the export of liquefied petroleum gas, stabilized gas condensate, petroleum and petrochemical products, as well as organize the supply of modern high-tech equipment and components. In addition, it is planned to organize the export of seafood, including crab products, within the framework of the agreement. Arkady Pinchevsky, General Director of Russia’s United Oil and Gas LLC, emphasized that the relevant project will contribute to the growth of freight traffic between Russia and China. The cost of the project is estimated at 106 billion rubles. The agreement provides for attracting funds from Chinese financial institutions.