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International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 23:56

Lithuanian Railways and China's CMG to set up joint venture

BC, Vilnius, 09.10.2015.Print version
Lithuanian Railways (Lietuvos gelezinkeliai) and Chinese state corporation China Merchants Group (CMG) are planning to set up a joint expedition venture in the near future. The company will handle freight transportation between Lithuania, Belarus, and China, reports LETA/ELTA.

Photo: litrail.lt

A relevant agreement on Thursday was signed by representatives of Lithuanian Railways and CMG.

 

"We are constantly looking for opportunities to work with China's freight and ways to get established in the logistics map of this country. The agreement we signed today represents a truly big and real step towards these goals," said Deputy Director General of Lithuanian Railways Albertas Simenas.

 

CMG is one of the largest state companies of China, the leader among Chinese state port operators. CMG's net profit last year amounted to EUR 3.9 billion.






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