09.03.2010
North Korea recently gave Russia the right to use its Rajin seaport for 50 years and is considering extending China's 10-year contract signed in 2008 by another 10 years.
China is investing tens of millions of yuan or billions of won in modernizing the Rajin pier it took on lease, Yonhap News reported.
By using the Rajin port, China will be able to ship coal and other export items from its most underdeveloped northeastern provinces which lack transportation infrastructure.
Sun Zhengcai, provincial party secretary of China's Jilin, had reportedly introduced a regional development project to Kim Yong-il, chief of the international department under the North Korean Workers' Party, during his visit to the region late last month, saying that "it has opened a new opportunity for cooperation between the two countries in construction of roads and basic infrastructure."
In addition to making Jilin's coal exports more accessible, the Rajin port could also serve as an export path for Siberian crude oil and natural gas to neighboring countries.
Source: Seatradeasia-online.com