China-Russia partnership

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Russian investment firm Volga Group (VG) and China Harbour Engineering Co (CHEC) have agreed to establish a joint venture to develop coal transport and logistics schemes, according to Gennadiy Timchenko, the billionaire businessman who controls VG. He explained that the agreement will grant CHEC block shareholdings in two VG subsidiaries, Kolmar and Sakhatrans, in exchange for cash, equipment and management expertise.

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