FESCO expects to sign deal on Zarubino with Mongolian co Jan–Mar

MOSCOW, Dec 16 (PRIME) -- Russia’s Far-Eastern Shipping Company (FESCO) expects to sign an agreement on a coal terminal project in the Port of Zarubino with Mongolia’s Erdenes-Tavantolgoi in January–March 2020, CEO Alexander Isurin told reporters on Monday.

“We need to formalize the idea of a joint venture with the Mongolian partners now… And we expect to formalize the key principles and sign them as an agreement of cooperation which will include establishment of a joint venture in the first quarter, which means a shareholder agreement. And so on,” Isurin said.

Investment in the first state of the terminal amounts to U.S. $215 million with transshipment of 6 million tonnes, and $260–270 million at the second stage with transshipment of up to 10 million tonnes.

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