VaninoTransUgol to start construction of 2nd stage in 2019

MOSCOW, Nov 29 (PRIME) -- VaninoTransUgol, a coal terminal in the port of Vanino, plans to start construction of a second, 12 million tonne stage of the terminal in 2019, First Deputy CEO Elmar Kamayev said at a forum on Friday.

“We plan to finish the project until the end of this year, to finish the main construction works. We plan to start shipping the first coal at the end of the first quarter of next year. It is the first stage…We also plan to launch construction of the second stage this year, it will add about 12 million tonnes of transshipment, so we will have 24 million tonnes in total at the end of 2022 or in early 2023,” he said.

“Combined investment in the first stage stands at 43 billion rubles, of which almost 3.2 billion rubles is federal investment, and some money was raised through the program of a (project financing) factory.”

State development corporation VEB.RF and the country’s second largest bank VTB earlier agreed on 34 billion rubles of financing of VaninoTransUgol with the first tranche amounting to 19.2 billion rubles.

(64.1005 rubles – U.S. $1)

End