In continue of the framework documents signed in December 2017, on May 24, 2018, the main companies-operators of the "New Land Grain Corridor Russia-China" signed a second pre-contracting agreement for the creation of turn-key projects. The tripartite document is concluded with SINOHYDRO Corporation Limited, appointed by Powerchina Corporation as its responsible representative and executor of the contract in Russia.
The purpose of the tripartite document is to describe the conditions for future cooperation and to approve of the Roadmap for the preparation and signing of a long-term Contract for the creation of land grain corridor facilities on a turnkey basis.
SINOHYDRO Corporation Limited is one of the largest in China and a major international contractor doing integrated investment projects. The company specializes in the construction of energy and infrastructure facilities around the world, it has formed water and electricity construction as the core, involving road and rail transportation, municipal construction, housing construction, water treatment and other fields. The comprehensive development of the " Large civil engineering, large building" diversified market structure. The company has experience in construction of engineering facilities in the CIS countries, as well as experience in the construction of grain elevators.
The Initiative "The New Land Grain Corridor Russia-China", which is supported by the President of the Russian Federation Vladimir Putin, includes the creation of a grain-carrying and export infrastructure in Siberia with a capacity of ~ 20 million tons of grain per year (Zabaikalsk Grain Terminal and 29 linear elevators), the creation of a mechanism for export "contract production" (includes advancement, formula determination of price and support of producers).