MOSCOW (Pakistan Point News / Sputnik - 28th March, 2023) The Russian Delo Group and the Chinese Shandong Port Group (SPG) have agreed to create a joint venture for transport and logistics projects in the two countries, the press service of the Russian company said on Monday.
"Delo Group and Shandong Port Group (SPG) agreed to establish a joint venture (JV) to implement transport and logistics projects in Russia and China," the statement said, adding that the decision was made following negotiations between Chairman of the board of Directors of Delo Group Sergey Shishkarev and SPG Chairman Huo Gaoyuan.
The joint venture will focus on integrated logistics products based on the assets of the two companies and on warehouse logistics initiatives, the statement said.
Last week, Russia and China signed a memorandum of cooperation on container transportation and other areas of logistics and transport.
Shandong Port Group is the largest port operator in the world, consisting of Qingdao Port, Rizhao Port, Yantai Port and Bohai Bay Port. It employs more than 60,000 people. Delo Group is a Russian transportation and logistics company, operating its own fleet and sea container terminals in the Azov and Black Sea, Baltic and Far Eastern basins.
