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The parties have signed an agreement of intent. Under the agreement the Chinese company CMHI will become a minority shareholder of the port, announced Ziyavudin Magomedov, owner of the Summa Group. Mr. Magomedov did not specify how the transaction will be structured or the amount of the shares that CMHI will purchase....
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Summa Group, headed by Ziyavudin Magomedov, today should be signing an agreement with the Chinese province of Jilin for the construction of a “dry” (inland) port in the border-city of Hunchun. This will be a satellite logistics center of the Big Port Zarubino, which Summa is planning to build in the Primorsky Territory in 2018. In this “dry port”, the Group expects to handle up to 40 million tons of cargo each year, and then forward it by rail to Russia. The “dry port” will cost Summa around $300-350 million to build. According to analysts, for this project in Hunchun, Summa will have access to Chinese low-interest credit financing....
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Zarubino Port, an ice-free harbor located 18 kilometers from the Sino-Russian border, will include terminals for grain handling, containers, roll-on/roll-off, as well as general and bulk cargos, with a turnover of 60 million tons per year, according to Alexander Ananenko, project manager of the port within Summa Group....
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