State-controlled monopoly Russian Railways has agreed with Chinese and German partners to set up a joint venture to handle container carriage, the company's President Vladimir Yakunin said on Wednesday.
"We have agreed with China's transport minister to set up a three-party joint venture, in which German partners will also take part, in the field of container shipments," he said on the fringes of the Russian-Chinese economic forum.
TransContainer, a cargo division of Russian Railways, will participate in the joint venture on Russia's behalf, he said.
Yakunin said the most promising business areas for the joint venture involved container shipments from China's northeastern provinces, which had no direct access to the sea, across Russia's Far Eastern ports to China's south, Japan, South Korea and other countries.
"We also discussed with China's transport minister the possibility of cooperation to develop the Khasan port-Rajin rail section and the construction of a 160-kilometer track," Yakunin said.
The Khasan port-Rajin railway link connects Khasan, a Russian settlement on the border with North Korea, with North Korean's Rajin port.
MOSCOW, November 24 (RIA Novosti)