Chinese Company to Build a Logistics Hub for Northern Sea Route Vessels in Chukotka

On Friday, September 5, at the 10th Eastern Economic Forum, an agreement was signed to establish a logistics complex for cargo transshipment aimed at reducing transportation costs along the Northern Sea Route, to be located in Provideniya Bay. The document was signed by the Far East and Arctic Development Corporation (FEDC) and the Chinese company NewNew Shipping Line. The total investment volume is estimated at 5 billion rubles, according to IA “Chukotka”.