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Russia to Invest 100 Billion Rubles in a New Black Sea Port
6.06.2011 11:39
Russia to Invest 100 Billion Rubles in a New Black Sea Port

It is planned to build a new port on the Black Sea. Russia will invest $3,6 billion in the project.
       The main investors are Uralkali, SUEK, United Grain Co, Metalloinvest and Global Ports, according to Andrei Nedosekov, Deputy Transport Minister. The new port in Taman will ease supply constraints at Novorossiisk.
       According to Reuters, "Russia is expanding port capacity to aid shipments of key exports such as grain, iron ore and fertilisers".
       The construction of the port will begin in 2013 and well end in 2018. The initial capacity of the port complex will be about 66 million tons a year, then its capacity will be increased to 100 million tons. For comparison, the capacity of Novorossiysk port is about 70 million tons per year.

Author: Ksenia Dzhalagonia

Tags: Russian business Black Sea investment   

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