Global Ports Group operator of specialized port terminals in Russia and the Corporation for the Development of the Far East and the Arctic (FEDC) have agreed to cooperate in Vostochnaya Stevedoring Company (VSC is part of the Group) marine container terminal expansion project implementation at Primorsky Region port territory.
Parties signed the corresponding agreement during the Eastern Economic Forum in Vladivostok on September 6.
Under arrangement Global Ports intends to invest no less than 10 billion rubles in VSC development up to 2030. For example, the Group will fund modern handling equipment procurement, infrastructure upgrade and will increase yard and rail capacities.
FEDC will assist Global Ports in VSC development with account to the region potential and needs as well as field trends. The assistance will cover land plots selection, infrastructure issues, and getting state support for the project.
«The Far East ports significance in the overseas trade flows has increased drastically. The Group has been consistently investing in VSC for many years which allows the terminal to handle export and import cargo efficiently and uninterruptedly under high market volatility and peek loads. The intensive development of VSC as a responsible investor of Primorsky region and big container hub in Russia remains a priority for the Group, and we view the Far East and Arctic Development Corporation as a strong partner for our strategic plans implementation», Albert Likholet, CEO of Global Ports Group, emphasized.
«The expansion of the VSC marine container terminal in the port of Vostochny will increase the volume of container turnover in the south of Primorye, providing new jobs and attracting private investment to the region. The implementation of the project will contribute to the development of the region’s production potential and strengthen our country’s export positions», noted Nikolay Zapryagaev, CEO of FEDC.
Photo: Global Ports