Klaipėda State Seaport Authority reported that CMG plans to establish a representative office in Vilnius, and with the company trading through and establishing an office in Klaipėda. The Chinese company is also interested in buying a terminal in the Klaipėda port and investing in the future development of the outer harbour.
“The Chinese see Klaipėda as an attractive location for a transport and logistics centre in the West as a part of their Silk Road, which is currently being developed by the Chinese government. The Port Authority has offered some premises for the office and it suited them,” said Artūras Drungilas, marketing and corporate affairs director at Klaipėda State Seaport Authority.
To announce the news, China Merchants Holdings International Deputy General Manager Henry Feng visited Klaipėda.
Talks about the Chinese plans for the port started in last May. Lithuanian Prime Minister Algirdas Butkevičius visited China last November to discuss a possible deal at government level.
CMG is one of the largest Chinese state companies, and a Chinese state port operator. The company also provides banking, securities, insurance and brokerage, fund and fund management, securities issues, online stock trading services, as well as a direct investment management services platform.
CMG is currently constructing a $300 million project in Belarus – a massive industrial park called Great Stone near Minsk airport. The company plans to finish the first phase of work by the end of 2016. Building materials, equipment, and structures are planned to be moved through Klaipėda seaport for the construction. When the plants become operational – the port will be used to ship raw materials for the industrial park.