A joint Lithuanian-Chinese forwarding and logistical venture should launch operations in the first half of 2016 in line with an agreement signed by the executives of Lithuanian Railways and China Merchants Logistics Holding.
The joint venture would engage in cargo forwarding between Lithuania, Belarus and China and the first cargoes – building materials for the Great Stone, an industrial park being built close to Minsk – would be delivered through the port of Klaipeda, the Lithuanian state-owned railway operator said.
China Merchants Group, China’s transport and logistics, property and finance corporation which generated nearly CNY 28 billion (EUR 3.9 billion) in net profit last year, will invest approximately USD 500 million in the park.
According to Stasys Dailydka, CEO of Lietuvos Gelezinkeliai, the agreement with China’s logistical company would open up more possibilities for the both countries’ businesses.
Specifically, he mentioned transportation of goods to the future park in Belarus and development of joint container train projects.
“The signed agreement will provide more opportunities not only for the both companies that are setting up the joint undertaking, but also for the businesses. We will transport building materials for the industrial park. However, once the construction of this part will be completed, we will be in a great position to deliver the necessary goods and establish joint container trail projects” said Stasys Dailydka, CEO of Lithuanian Railways.
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