Portek International says its subsidiary, Europort International has signed two separate MOUs to explore the feasibility of developing and operating container and multi-purpose terminals in Russia.

The first MOU was signed by Europort International, ME Projects (a wholly-owned subsidiary of Singapore-based integrated logistics service provider CWT) and JSC Vladmorrybport.

The MOU stipulates the steps to be taken by the various parties enabling Portek and CWT to evaluate the feasibility of investing in the development of a multipurpose terminal in the city of Vladivostok in the Russian Far East.

The second MOU, signed between Europort International and Armley Investments, enables Portek to study the feasibility of jointly developing a new container terminal in Kaliningrad, Russia.

The MOUs are not expected to have any material impact on the earnings per share and net tangible assets per share of Portek for the financial year ending 30 June 2011.