Russia’s VEB.RF bank has transferred the first 550 mln rubles ($6.1 mln) to GTLK for the construction of the Lavna coal terminal in Murmansk region. According to VEB.RF, the money will be used to finance construction, installation and commissioning work.
The entire amount of financing that VEB.RF is to provide under privileged conditions in cooperation with the RF Ministry for the development of the Russian Far East and Arctic makes 4 bln rubles ($48.7 mln).
The terminal is scheduled to be put into operation in December 2023. The new facility is expected to help increase the export of coal and expand its geographic scope.
According to VEB.RF, the terminal is currently 61% ready. 1,434 people and 183 units of construction equipment are deployed in Lavna.