The Russian group VIS and the China Railway Construction Corporation (CRCC) have signed an agreement to create a consortium for the implementation of transport infrastructure development projects.
This was reported in the press release of the Russian company. The document was signed by Vyacheslav Kornilayev, Deputy Chairman of the Board of Directors of the group, and Meng Tao, Chairman of the Board of Directors of CRCC RUS, in the presence of Igor Snegurov, Chairman of the Board of Directors of the VIS Group and Zhuo Lei, Chairman of the Board of Directors of CRCCI.
As noted, further interaction between Russian and Chinese companies involves a wide range of tools, including the creation of enterprises for the construction of subway lines. The parties also agreed to create a joint company that will participate in investment projects in Russia and the Middle East.
The VIS Group is a multidisciplinary holding company implementing large-scale infrastructure projects and is one of the largest general contractors in the field of construction of generating capacities and the oil and gas industry in Russia. The estimated cost of public-private partnership projects that are included in the portfolio of the VIS Group exceeds 630 billion rubles.
CRCC is China’s second largest state-owned construction company (after China Railway Engineering Corporation), involved in transport infrastructure projects in more than 100 countries.
The Chairman of the Board of Directors of the VIS Group Igor Snegurov noted that the agreement reached on creating a consortium with CRCC “will have a significant synergistic effect for the domestic market”:
“Earlier, we reached an agreement with Chinese partners on creating a joint consortium and today we issued it in the form of a specific document . The VIS Group actively cooperates with the leaders of the global infrastructure market, one of which, without a doubt, is CRCC. Combining the accumulated competencies of our companies both in construction and in financing infrastructure projects will have a significant synergistic effect for the domestic market. ”
China may facilitate access to goods from Russia
China may facilitate access to goods from Russia
The Chinese authorities may ease the requirements for the import of a number of Russian-made goods in the context of the aggravation of the «trade war» with the United States.
This was stated in an interview with RIA Novosti by the head of the Department for Russia and the CIS of Deloitte in China, Alexander Krylov. In the comments published by the Prime agency, Alexander Krylov noted that, in particular, it could be about softening the requirements for agricultural products in Russia. At the same time, he said that US trade restrictions would not be able to prevent China from implementing the Made in China 2025 strategy.
“We do not exclude the possibility that after retaliatory measures against the United States, China may introduce exemptions for goods imported from Russia in industries such as agriculture, which will positively affect the trade and economic turnover of our countries.
As for goods imported from the United States to China, most of the products for which US duties were imposed are occupied by high-tech products, such as robotics, industrial equipment, information and communication equipment, etc. However, with a great deal of confidence we can say that this will not prevent China from achieving its goals under the Made in China 2025 high-tech strategy. ”
