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Japanese investor acquires Postiet stevedore with approval of government commission - EastRussia | Far East

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Japanese investor buys stevedore in Posiet with the approval of the government commission

For the transshipment of timber for export, Japanese investors purchase stevedore in Primorye. The deal was approved on Thursday at a meeting of the government commission on foreign investment

Japanese investor buys stevedore in Posiet with the approval of the government commission
“An interesting project is connected with Japanese investors in the Far East. A Japanese construction holding acquires the company Slavic Forest Terminal. This is a port in the Posiet bay, the southern part of the Primorsky Territory, where they will develop timber cargo transshipment, ”said Igor Artemyev, head of the Federal Antimonopoly Service, told reporters at the end of the commission.

The buyer is Iida Group, the leader of the Japanese house-building market. The company's revenue for 2015 fiscal year, ending 31 March, amounted to 10,7 billion dollars.

“In addition, they invested a sufficiently large amount of funds in previous years, bought out forest land in the Russian Federation, and will export and produce lumber for the needs of our Far East. The deal was actively discussed, some conditions will be exposed to the Japanese construction holding company in order to protect the interests of the Russian Federation to the greatest extent, in particular, for the supply of timber and other materials for housing construction in Primorye, ”said the head of FAS.

“In addition, the export opportunities of the Japanese company will be provided. Recently, the President met with the Prime Minister of Japan, I think one of the consequences of the meeting is the approval of the deal.

Earlier it was reported that Iida could host the assembly of houses in the Alabuga SEZ in Tatarstan, Interfax reported.