The RF Federal Agency for Maritime and River Transport concluded a concession agreement with Multifunctional Cargo Area Ltd., and investor into the new multifunctional cargo area in the port of Poronaisk on the island of Sakhalin during the St. Petersburg International Economic Forum.
The agreement provides for developing new state of the art infrastructure in the sea port of Poronaisk including a coal terminal for 5 mn tons per annum, a bunkering terminal for 200 thousand tons, an oil terminal for 5.5 mn tons, a condensed gas terminal for 2.8 mn tons, a port logistics base for 500 thousand tons, and a port fleet base. The overall capacity of the terminals will make 14 mn tons per annum.
The new multifunctional cargo area in Poronaisk is part of the federal project Sea Port Development for the period until 2024. The investment project is estimated to cost 35 bn rubles ($462 mn).