Wednesday, August 10, 2022

NagaCorp brings on Chinese railway company


Cambodia-based casino operator, NagaCorp has commissioned a Chinese railway company to build a 380 km high-speed railway linking Vladivostok and Mudanjiang, according to reports.

NagaCorp is one of the key investors in the Primorye gambling zone, currently constructing Naga Vladivostok, which is set to open in 2019.

"NagaCorp has helped to bring in China Railway Dongfang Group because it needs to attract a massive tourist flow, primarily from China, to successfully develop its business. And it encouraged the Chinese investor to carry out this project, " a source told Russian media outlet RBC.

NagaCorp refused to comment on the news "until an active phase of the work in this direction starts", but it did reaffirm plans "which were announced during the signing of a relevant agreement."

An agreement on intent to build the high-speed railway was signed in Khabarovsk on 19 April. The document provides for a financing mechanism for the preparation of the feasibility study.

The preliminary estimate of the project comes in at $12 billion.

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