The management of Taganrog Commercial Sea Port has made a decision to launch a new investment programme to develop the port infrastructure. The programme includes two major investment projects.
The first project is aimed at building a universal bulk terminal to handle mineral fertilizers with an annual capacity up to 600,000 tons and a roofed storage capacity up to 30,000 tons.
The other project envisages building a specialized grain terminal to handle up to 600,000 tons per annum with a storage capacity of 40,000-60,000 tons.
The first stage of the investment programme is expected to be completed in Q1 2024 and will enable the port to increase throughput by 110% compared on the 2022 result by the end of 2025.
The management of Taganrog Commercial Sea Port believes that implementing these projects will allow the company to become a truly universal port offering a wide range of services of handling export and import general, dry and liquid bulk cargo year-round.
In October last year the little known company Lemar closed the deal to acquired 91.63% of Taganrog Commercial Sea Port from First Port Company.
In early December, the shareholders of the port voted for terminating the powers of the managing company Transport Asset Management and electing the new Board of the company at their extraordinary meeting.
The new management of the port hopes to sea its throughput increase by 25-30% year-on-year by the end of 2023. So far, the January-February 2023 throughput is 61.4% below the result for the same period of 2022, according to SeaNews PORTSTAT analytic online service.