China's Swift, Russian Railways to construct container terminal in Altai Territory for 5 bln rubles

BARNAUL. June 8 (Interfax) - China's Swift and Russian Railways plan to construct a container terminal in the Altai Territory, with investments estimated at 5 billion rubles, Altai Territory Governor Viktor Tomenko told Interfax.

"The Chinese company along with Russian Railways plan to construct a modern, large container terminal in the Pervomaisky District, with cargo loading of 3.5 million tonnes per year. The investment should be approximately 5 billion rubles, and it will employ around 1,000 people," Tomenko said.

The parties signed the corresponding agreement at the St. Petersburg International Economic Forum (SPIEF).

Tomenko said that the project would increase export volumes of products from the Altai Territory, as well as boost mutual trade with Asian countries.

Swift Group handles container shipping from China and Asian countries, and throughout Russia and the Commonwealth of Independent States (CIS), according to the group's website. Swift's main office in Russia is located in Moscow, and there are several branches in the regions.