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Chinese company may invest over $1bln in Russia’s Vostochny port — chairman

September 04, 2015, 4:12 UTC+3 VLADIVOSTOK
Russia's Far East could see "significant economic changes with the development of ports," says the chairman of the board of directors
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Vostochny port

Vostochny port

© ITAR-TASS/Yuri Smityuk

VLADIVOSTOK, September 4. /TASS/. Chinese company Yingkou Port Group may invest more than $1 billion in the infrastructure development of Russia’s Far Eastern Vostochny port, the chairman of the board of directors has told TASS.

"As for the amount of investment [in Vostochny port], this may by $500 million, $800 million, $1 billion or even a greater sum," Lee Hechun said at the Eastern Economic Forum in Russia’s Vladivostok.

The businessman said "a search for the right partner is underway."

At a meeting in the framework of the forum, he said Russia's Far East could see "significant economic changes with the development of ports." "We are ready and open for cooperation with regional and federal governments," he added.

Russia’s first ever Eastern Economic Forum (EEF) runs on September 3-5 in Vladivostok. It presents regional investment opportunities and projects. The overall sum of contracts and agreements prepared for the EEF is worth some 4.7 trillion rubles ($70.3 billion).

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