(Yicai Global) May 18 -- Construction on phase one of the Bely Rast logistics center has begun and is expected to be completed by the first half of next year.
The center, which is set to be Moscow's largest integrated multi-functional international hub, will integrate 21 container-train routes that are already running between China and Europe and offer services including transshipment, storage, distribution, customs clearance and bonded warehousing. It will also improve overall transportation efficiency along the eastern part of the Belt and Road.
The facility was funded by Russian Railways JSC and China's port and shipping service provider Yingkou Port Liability Co. [SHA:600317].
The two companies signed a memorandum of cooperation on the project in Beijing in September 2015, local media Liaoning Daily reported. Yingkou Port holds a 49-percent stake in the RUB18 billion (USD311 million) hub.