Company partly owned by Gazprombank to build 22 bln ruble logistics hub on border with China

VLADIVOSTOK. Sept 5 (Interfax) - IFR-1 LLC, a Moscow-based company that is partly owned by Gazprombank Group, plans to invest 22.05 billion rubles in two projects at the Nizhneleninskoye (Jewish Autonomous Region)-Tongjiang (Heilongjiang province, China) border crossing, the Far East and Arctic Development Corporation (FEDC) said after the signing of an agreement on this with the company at the Eastern Economic Forum on Thursday.

The agreement calls for the construction of a universal transhipment terminal with capacity to handle up to 80,000 forty-foot containers and up to 500,000 tonnes of other freight per year, as well as a railway transhipment complex (agrilogistics terminal) for agricultural exports that will have initial capacity for 300,000 tonnes of freight per year by 2029 and expand to 1 million tonnes by 2032.

"Substantial preparatory work has already been done. Business plans have been worked out and land parcels have been received through the mechanism of territorial development. Our objective now is to proceed to the practical implementation of the set plans as soon as possible and start building the facilities," IFR-1 chief executive Maxim Murashko was quoted as saying in the press release.

IFR-1 was founded in 2023 and is owned by four limited liability companies, including Gazprombank subsidiary GPB Infrastructure Holding with a stake of 18.37%, the Unified State Register of Legal Entities showed.