Russia approves concession for cargo facility in Sakhalin port

MOSCOW, Mar 30 (PRIME) -- The Russian government has approved a concession agreement for construction of a multi-purpose cargo handling facility in the Poronaysk port of the Sakhalin Island, the government said in a statement on Tuesday.

“A modern cargo facility with coal, oil, and gas terminals will be built on the coast of the Sakhalin Island. Prime Minister Mikhail Mishustin approved a concession agreement on its creation,” the statement read.

Under the concession deal, the investor will use the port, to be launched no later than 6.5 years after the signing the deal, for 49 years.

The facility will be capable of handling ships with a deadweight of up to 80,000 tonnes. Investment will exceed 35.9 billion rubles, and budget spending on infrastructure will amount to 3.96 billion rubles.

Capacity of the port’s coal terminal will amount to up to 5 million tonnes per year, of the oil terminal to 5.5 million tonnes per year, and of the gas condensate terminal to 2.8 million tonnes. The facility will also include a supply depot and a bunkering unit.

(75.8287 rubles – U.S. $1)

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