China Merchants, Summa to build Zarubino Port

China Merchants Group, the State-owned transport, finance and property conglomerate based in Hong Kong, is to take part in the construction of Russia's Zarubino Port, according to a report on Sputnik News.

The group is seeking tax and tariff preferences in the building of the port, which is near to Russia's border with China, Sputnik said.

China Merchants is said to have signed an agreement of intent to build the port with Summa Group, Russia's largest transport and logistics company and Zarubino's developer, in May last year during the Asia-Pacific Economic Cooperation summit held in Beijing.