World Economy

Chinese Firms to Invest in Norwegian Ports

Chinese Firms to Invest in Norwegian PortsChinese Firms to Invest in Norwegian Ports

Chinese companies are interested in the development of commercial shipping along the Northern Sea Route, as well as in the local Kirkenes Port and infrastructure, Rune Rafaelsen, former leader of the Norwegian Barents Secretariat, said, as quoted by BarentsObserver.

Chinese companies are considering investing in the infrastructure of the Norwegian port city of Kirkenes and a projected railroad between Kirkenes and Rovaniemi, Finland, Sputnik reported.

If the port and the railroad are built, China would have access to a new infrastructural object which could easily deliver goods to the Central and Northern European markets.

“Chinese companies and investors are well aware of what is happening in Kirkenes,” Rune Rautio, a representative of Norwegian company Aquaplan-Niva, was quoted as saying by BarentsObserver. “They are interested in investing in local infrastructure.”

Despite relations between Oslo and Beijing having been suspended after a Chinese dissident was awarded with the Nobel Peace Prize, the two countries have maintained contacts in the north.

Chinese companies have long-term plans for the region and are gradually taking measures to bolster their presence in the area.

“Chinese companies are interested in the development of commercial shipping along the Northern Sea Route, as well as in local Kirkenes plans for a new port and port infrastructure, the projected oil terminal, base activities and a railroad to Finland,” Rune Rafaelsen, former leader of the Norwegian Barents Secretariat, said, as quoted by BarentsObserver.

According to him, now it is important for Norway to make its ports available to show the potential of maritime cooperation between Russian and China.

Currently, Russia is implementing a transportation hub project in Murmansk Region, which borders Norway. The project presumes the creation of transportation infrastructure facilities at the western coast of Kola Bay, including coal and oil terminals. There are plans for the creation of a deep-water all-year sea hub in the region. It would become a major logistics center, and be integrated into the “North-South” international transportation corridor.