29 Oct 2019 16:48

France's CMA CGM ready to invest in terminals in Russia

SOCHI. Oct 29 (Interfax) - The French container operator CMA CGM is considering investing in the terminal industry in Russia, the company's senior vice president for container logistics, Joel Gentil, said at the forum Pro//Movement.1520.

"The company has invested in the creation of a joint enterprise in Russia [Logoper]. We're considering working in the Russian market not only as a railway operator, but also possibly as a terminal operator, because we believe that this is a strategic region," Gentil said.

"We're optimistic about the development of container transit and believe that volumes of container transit from China to Europe through Russia will grow," he said.

"We'll continue to invest in Russia because we believe in successful development, and we believe in railroads," Gentil said.

According to SPARK-Interfax, 50% of Logoper belongs to the KLK Holding (KLKH, Moscow) and 50% to CMA CGM. Within KLKH, 80% belongs to Alexander Kakhidze, 10% to Aare Kaarma, and 10% to Yury Lopusov.

CMA CGM is one of the world's biggest container operators. It is headquartered in Marseille.