United Grain Company, Russia-‘s governmental port property management agency Rosmorport and Demetra Holding uniting grain-related assets of VTB Bank have agreed to cooperate in investment projects aimed at developing grain handling infrastructure in Russian sea ports. The document was signed at the St. Petersburg International Economic Forum.
The cooperation envisages building a new quay to handle Panamax class bulkers, a grain gallery and supplementary facilities and infrastructure in the port of Novorossiysk. The project is expected to double the grain handling capacity up to some 25 mn tons by 2024 and expand the storage capacity from the current 370,000 tons up to 870,000 tons.