Delo Group and Shandong Port Group agreed to set up a joint venture
Delo Group and Shandong Port Group (SPG) agreed to establish a joint venture (JV) to implement transport and logistics projects in Russia and China. According to the press release of Delo Group, the agreement was reached following the results of negotiations of Chairman of the Board of Directors of Delo Group Sergey Shishkarev and SPG Chairman Huo Gaoyuan.
The JV is aimed to create integrated logistics products based on the assets of the parties and utilizing modern IT solutions. In addition, the JV will work on initiatives in the sphere of warehouse logistics in the Free Port of Vladivostok the Eastern Stevedoring Company of Global Ports (part of Delo Group) being the resident of.
Commenting on the establishing of the joint venture, Chairman of the Board of Directors of Delo Group Sergey Shishkarev said: "As a result of negotiations with one of the world's largest port corporations we were able to agree to move from intentions to specific actions. I am sure that the creation of the joint venture is the first step towards our long-term cooperation with SPG and together we will be able to increase logistics efficiency between our countries and promote joint transport products on foreign markets".
Earlier Delo Group and SPG signed a memorandum of cooperation in the field of container transportation and other areas of logistics and transport.
