VTB Group and EFCO Group have signed a letter of intent on cooperation in building and operating terminal infrastructure in the port of Taman.
The document provides for developing terminal facilities to handle up to 10 mn tons of grains and grain meal and 3 mn tons of vegetable oil annually.
EFCO operates Sea Terminal Taman, which is specialized in handling vegetable oil. According to the SeaNews PortStat online service, in January-October 2019 the terminal handled 1.2 mn tons.
In the past, EFCO owned another Taman-based terminal, Grain Terminal Complex Taman, which it later sold to the Ukrainian agricultural holding Kernel and the transnational trader Glencore. At present, VTE is negotiating the acquisition of 50% in this facility. This terminal, according to PortStat, handled 1.9 mn tons in January-October 2019.