04:02 GMT27 October 2020
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    Singaporean company Baoli Bitumina plans to invest in developing port infrastructure in the Russian Far Eastern towns of Sovetskaya Gavan and Vanino, a Russian senior official told Sputnik on Wednesday.

    MOSCOW (Sputnik) — The two ports are linked to the Baikal-Amur railway system which connects to the Trans-Siberian railway and all of Russia.

    "They are interested in that region because the Baikal-Amur railway ends here. It’s a convenient transport and logistic spot," Ivan Tonkikh, the head of the Investment Department with Russia’s Far East Development Ministry, said.

    The official added that the Singaporean company had asked for 50 hectares in the designated Russian region to develop trade targeting Pacific Rim markets.

    He said that Baoli Bitumina would gain access to raw materials, infrastructure and tax benefits.

    According to the Russian Far East Development Ministry, Baoli Bitumina also intends to invest some $200 million in the modernization of one of Russia’s Pacific ports, setting up an oil and gas export terminal.

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    business, investment, Far East, Russia, Singapore
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