The 70mt of annual handling capacity Primorsk Multipurpose Transshipment Complex (PMTC), an investment valued at RUB90.6b (€1.21b), is planned to be up and running by 2022.

The new port, spanning over 780 ha, is to handle coal, mineral fertilisers, containers, other general cargo, and grains. The PMTC will function as a special economic zone.

The agreement on the construction of the new port complex was signed by Alexander Drozdenko, Governor of the Leningrad Region, and Ramis Deberdeev, Chairman of the PMTC's Board of Directors at the Russian Investment Forum.

"The project approved by the Federal Marine and River Transport Agency is included into the Strategy for Social and economic development of the Leningrad Region through 2030 and long-term development programme of FSUE Rosmorport till 2020," PortNews, a Russian information agency, reported.

PortNews also informed, "The project on construction of a multipurpose deep sea port is to be implemented in the Vyborg District of the Leningrad Region in compliance with the strategy on taking over Russia's foreign trade cargo from the ports of the Baltic states."

Photo: Google Maps