Senior representatives of China‘s industrial giant, China Merchants Group, will visit Lithuania again this week to meet with representatives of Lithuanian Railways and the Klaipėda Seaport Authority to explore opportunities in the country.
© AFP/Scanpix

The Chinese company has been interested in Lithuania for a number of years now and it has already agreed a number of deals in Lithunia. CMG has signed three memorandums in Lithuania to date - with the Kaunas free economic zone, with Lithuanian Railways and Klaipėda State Seaport. A letter of intent has also been signed with logistics company VPA Logistics.

CMG agreed to establish a joint venture with Lithuanian Railways and announced plans to build an external port in Klaipėda and two representative offices in Vilnius and Klaipėda. CMG plans to build a product distribution centre in Kaunas free economic zone.

China Merchants Group chose Lithuania last year as a location for China's new Silk Road Strategy implementation with the company planning to set up the so called One Belt One Road cooperation centre in Lithuania composed of transport and industrial complex. Under the One Belt One Road strategy the country is aiming to strengthen relations with Asia, Europe, the Middle East and Africa.

The company plan to completed a new $500 million industrial park in Belarus that will form a cornerstone of its strategy in the region. The park has already attracted companies like Huawei and ZTE.

China Merchants Group (CMG) had net profit of €3.9 billion in 2014.

Police busted armed gang of 22 persons in international operation

Lithuania's police said on Wednesday it was involved in an international operation which led to...

Meilutyte retires from professional swimming

Lithuania's Olympic champion Ruta Meilutyte announced her decision on Wednesday to end her...

Former Estonian president shares his insights why US is behind in digital breakthrough

Colorful and always with a smile on his face. This is how many people remember a former Estonian...

Planes were too close during Marijampole incident but there was no real threat

Several planes got too close over Lithuania's southern city of Marijampole in April but there was no...

President: Lithuania is lucky to have 'worthy' candidates in runoff (1)

Lithuania is fortunate to have two "worthy" candidates competing with each other to be elected...