Far East Development Corporation signs agreements with four foreign investors

JSC Far East Development Corporation has executed memorandums of cooperation during the second Eastern Economic Forum with four foreign companies, namely, Iida Group Holdings (Japan), Laoken Medical Technology (PRC), Corporation COFCO Ltd. (PRC) and Dalian Port Corporation Ltd (PRC).

Far East Development Corporation signs agreements with four foreign investors

JSC Far East Development Corporation has executed memorandums of cooperation during the second Eastern Economic Forum with four foreign companies, namely, Iida Group Holdings (Japan), Laoken Medical Technology (PRC), Corporation COFCO Ltd. (PRC) and Dalian Port Corporation Ltd (PRC). Japanese investors from Iida Group Holdings are interested in constructing a sawn wood products plant and building timber houses in Primorye Territory. Laoken Medical Technology intends to create in the 'Nadezhdinskaya' priority development area enterprises that will facilitate bringing the services offered by the medical and health care industries to a brand new level. Dalian Port Corporation Ltd plans to invest into a project aimed to reconstruct and operate Nakhodka Sea Fishing Port. Another company from the PRC, i.e. COFCO, is going to implement an agricultural project in the Russian Far East.

Japanese investors from Iida Group Holdings are interested in constructing a sawn wood products plant and building timber houses in Primorye Territory in an area belonging to Vladivostok Free Port. A minimum amount of investments is going to reach $35 million and may change upwards.

Laoken Medical Technology intends to create in the 'Nadezhdinskaya' priority development area enterprises that will facilitate the improvement of services offered by the medical and health care industries. The project implementation is going to result in the creation of a sterilization department that will operate on an outsourced basis, facility that will make wound and cut management materials and clothes and a laundry for soft medical goods. Moreover, Laoken will attract other Chinese companies to participate in the creation of a healthcare production cluster in the territory of the Far East Federal District.

Dalian Port Corporation Ltd has executed a trilateral agreement with Far East Development Corporation and Nakhodka Sea Fishing Port. The foreign company plans to invest into the Nakhodka Sea Fishing Port reconstruction and operation project. Another company from the PRC, namely, COFCO, is going to implement an agricultural project in the Russian Far East.

"We welcome all foreign investors to Vladivostok Free Port and priority development areas. Far East Development Corporation, in its turn, will provide comprehensive support to the investor at all implementation stages of the investment project, including assistance in selecting an appropriate land plot and obtaining the status of resident," Denis Tikhonov, the CEO of JSC Far East Development Corporation, emphasized.