Russian Railways, China's ZJSG to develop rail haulage via China-Europe route
MOSCOW. July 13 (Interfax) - Russian Railways (RZD) and China's Zhejiang Provincial Seaport Investment & Operation Group Co. Ltd. (ZJSG) are planning to work on the organization of freight haulage via the China-Russia-Europe route using rail and sea transportation.
The corresponding agreement is set out in a letter of intent that was signed on Thursday with the participation of RZD President Oleg Belozerov and ZJSG Chairman Mao Dianhong. The companies intend to cooperate "as part of the Belt and Road initiative and the Eurasian Economic Union," the railway monopoly said in a statement.
As per the letter of intent both parties aim to look into the joint use of ZJSG terminals and logistics centers in Zhejiang province, the creation of integrated logistics warehouses equipped with smart technologies, the consolidation of the cargo base and the organization of trial freight runs.
"Both parties are ready to look into the possibility of creating a joint venture (JV) with the aim of organizing logistics centers in the Asia-Pacific region and/or in Russia as well as developing comprehensive transport services for the China-Russia-Europe route," the statement said. In addition, efforts will be focused on the harmonization of customs procedures and the creation of competitive logistics services.