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CJ Logistics partners with Russia’s Fesco to expand logistics biz in Eurasia
Collected
2018.03.19
Distributed
2018.03.20
Source
Go Direct
South Korea’s largest parcel delivery service company CJ Logistics Corp. affiliated to food and entertainment conglomerate CJ Group has partnered with a Russian logistics firm to branch out to Europe and Asia.

The Korean company said on Sunday it has signed a strategic partnership with Russia’s logistics firm Fesco, allowing it to ride on the immense Trans-Siberian railway business.

CJ Logistics expects the joint venture to better pave its way into Asia and Europe amid active infrastructure and industrial activities in Central Asia, Russia and Siberia, a company official said.

Fesco, one of the oldest founded in 1880, is the largest intermodal transport operator in Russia that provides marine shipping, rail transportation and port handling services. It is the biggest shareholder of the Port of Vladivostok and one of the top 10 freight train operators with a fleet of 17,000. Russian investment and trading group Summa owns the largest stake of 49.9 percent in the company.

By Lee Duk-joo and Lee Ha-yeon

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]