OREANDA-NEWS. Sberbank and JSC "NC" KTZ" have signed a memorandum of cooperation on financing transportation and logistics projects in India at the St Petersburg International Economic Forum.

The signing of the memorandum signifies a logical development in the close cooperation between the two companies and determines new horizons for their collaborative work. JSC "NC" KTZ", an active player in Eurasia's transportation market, plans to expand its activities in freight services in partnership with Sberbank.

The memorandum was signed by Herman Gref, CEO and Chairman of the Executive Board of Sberbank, and Askar Mamin, President and Member of the Board of Directors of JSC "NC" KTZ".

"Transportation and logistics have always been priority industries for Sberbank's financing and we are pleased to expand the cooperation with one of Eurasia's largest transportation holdings. We intend to develop further the cooperation with the largest Kazakh companies," Herman Gref, CEO and Chairman of the Board of Sberbank, announced.

"Sberbank of Russia is a strategic partner of JSC "NC" KTZ" in the implementation of the strategy for the development of transportation on the Eurasian continent, the construction of logistics infrastructure, both within Kazakhstan and abroad. Currently, with the development of the "North-South" project and the construction of the supply chain with access to the Indian market, the cooperation with Sberbank Group in India is an important factor for the success for implementing the reorientation strategy of freight traffic using the transcontinental railway corridors", - noted Askar Mamin.