KSK Grain Terminal, part of DeloPorts, a stevedore asset of Russia’s Delo Group, and Alfa-Bank signed an agreement to attract 1.1 bn rubles on preferential terms to complete an investment project aimed at reconstructing the KSK transshipment facilities.
The implementation of the investment project will allow KSK to increase the terminal capacity up to 7 mn tons of grain per annum. At present, the construction of deep-water grain berth No 40A has been completed in Novorossiysk. Commissioning is scheduled for July 2021.
The funds are provided as part of the interest rate subsidy program approved by Decree of the Government of the Russian Federation of April 26, 2019 No. 512 «On the provision of subsidies from the federal budget to Russian credit institutions, international financial institutions and the state development corporation “VEB.RF” to compensate for lost income on loans issued to agricultural producers that have entered into agreements on increasing competitiveness».