Norinco International Cooperation Ltd is investing USD 70 million into the construction of a warehousing complex in the Perm Krai. The 20 hectare logopark will be located 35 kilometers out of Perm.

According to experts warehousing logistics is not well developed in the Perm Krai. Whilst in the Sverdlovsk Oblast the total area of state of the art warehouses reached a million square meters, in Prikamye this indicator amount to just 30,000 square meters. There are no classes A warehouses in the region. For instance there is no possibility to store cargo weighing more than 100 tonnes. This is why large local industrial enterprises resort to using services of logistics companies from neighboring regions.

The new logistics centre will be built in the town of Krasnokamsk. The construction start is planned for the spring 2010 and completion for 2012. Megaservice Ltd, the project originator informed RusBusinessNews that the logopark will have warehouses of A and B+ classes totaling a hundred thousand square meters in area.

In 2008 it was planned to involve companies from Germany in the implementation of the project but in the situation of crisis they decided not to invest in Russia. It is expected that Norinco International Cooperation Ltd will obtain a loan in one of Chinese banks. One of the leading Russian banks will guarantee the loan.

The Chinese State Machine Building Corporation Norinco International Cooperation Ltd is a diverse holding company which develops, manufactures, and promotes a broad range of products in defense sector, heavy machine building, and automobile manufacturing.