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China announces massive cross-border project with Russia — RT Business News


Large fuel storage terminal to be built in Far East, says Xuanyuan Group CEO

China’s Xuanyuan Group Industrial Development plans to build a huge logistics center in the Amur region of Russia’s Far East, as cargo turnover between the two countries more than doubled over the past year. last year, group CEO Hailong Xue told RT.

The project is one of several deals the Chinese industrial group has reached with Russian investors on the sidelines of the Eastern Economic Forum in Vladivostok and will provide equal opportunities for Russian and Chinese companies to participate.

The hub will be located between the city of Tongjiang in China’s Heilongjiang province and the city of Nizhneleninskoye and is designed to facilitate the transfer of goods between Russia and China.

“The location of this hub is very important because it will be right between our borders. There is a narrow space between our borders, which makes the transfer of goods rather problematic. But, with our project, we estimate that the transport of goods will reach 10 million tonnes per year,” » Said Hailong. He expects freight traffic between Russia and China to increase fourfold in the coming years.

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According to Xuanyuan Group CEO, the project involves the construction of a terminal for the storage and transportation of dangerous and non-hazardous goods, such as liquefied natural gas (LNG), liquefied petroleum gas (LPG), fuel aviation, helium and other technological goods. .

Hailong revealed that the estimated cost of the project would be between $600 million and $700 million, with the cargo terminal scheduled to launch in 2027.

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