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US$120 Million to be Invested in the Development of the Integrated Transport Corridor "Far East-1"

An agreement has been signed at the International Industrial Trade Fair INNOPROM-2018 (Russia) on joint development of the integrated transport corridor "Far East-1" (Khabarovsk, Russia to Heilongjiang Province, northeast China, and countries of the Asia-Pacific Region) and also development of an agro-industrial cluster in Khabarovsk Territory.

The document was signed by the Far East Investment and Export Agency, Dongjin Group and the Autonomous Non-Profit Organization "Territorial Agricultural Fund".

As part of the project, a specialized sea port is planned to be built in Khabarovsk city for transshipment of agro-industrial products with the capacity of 400 thousand tons per year; introduction of 10,000 hectares of agricultural land for crop growing, as well as development of agro-industrial storage infrastructure for agricultural goods with a capacity to store 100,000 tons of products at any given time.

The total investment under the project is US$120 million.

It should be noted that Dongjin Group is already carrying out crop production (it produces grain and oil crops with the total planting area of about 30 thousand hectares), and the amount of previous investments is US$30 million.

As for the new transport corridor "Far East-1", it is planned to prepare the necessary documentation and begin the construction later this year.

"The project will be implemented in Advanced Development Territory Khabarovsk, which will enable the investors to enjoy a whole range of preferences and benefits," said Leonid Petukhov, General Director of the Russian Far East Investment and Export Agency.

By: Elena Shilova