ID :
12843
Thu, 07/17/2008 - 19:13
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Shortlink :
https://oananews.org//node/12843
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RZD, North Korea's Rajin set up JV to build cargo terminal.
MOSCOW, July 17 (Itar-Tass) - The RZD Trading House - a subsidiary of the Russian Railways Company - and North Korea's port of Rajin have created a joint venture to build a container terminal, according to the company's press release.
The joint venture is registered in Rason - a special economic zone - for 49 years. Russia has a 70-percent stake in the venture, while North Korea - a 30-percent stake, the Prime-Tass business news agency said on Thursday.
The joint venture will build a container terminal in the port of Rajin with a throughput capacity of 400,000 TEU.
On April 24, RZD President Vladimir Yakunin and North Korean Railway Minister Kim Yong-sam signed a cooperation deal. Under the deal, the two countries will renovate the rail line from Russia's border town of Khasan to the North Korean port of Rajin, where a cargo terminal will be built.
The joint venture is registered in Rason - a special economic zone - for 49 years. Russia has a 70-percent stake in the venture, while North Korea - a 30-percent stake, the Prime-Tass business news agency said on Thursday.
The joint venture will build a container terminal in the port of Rajin with a throughput capacity of 400,000 TEU.
On April 24, RZD President Vladimir Yakunin and North Korean Railway Minister Kim Yong-sam signed a cooperation deal. Under the deal, the two countries will renovate the rail line from Russia's border town of Khasan to the North Korean port of Rajin, where a cargo terminal will be built.
