China, Legislation, Lithuania, Railways, Transport

The joint venture would engage in cargo forwarding between Lithuania, Belarus and China and the first cargoes – building materials for the Great Stone, an industrial park being built close to Minsk – would be delivered through the port of Klaipeda, the Lithuanian state-owned railway operator said in a press release.

China Merchants Group, China’s transport and logistics, property and finance corporation which generated nearly 28 billion yuan (EUR 3.9 b) in net profit last year, will invest approximately 500 million US dollars in the park.

According to Stasys Dailydka, CEO of Lietuvos Gelezinkeliai, the agreement with China’s logistical company would open up more possibilities for the both countries’ businesses.

Specifically, he mentioned transportation of goods to the future park in Belarus and development of joint container train projects.