Russia: NCSP port to raise capacity of grain terminal to 6mn tons per year

Novorossiysk Commercial Sea Port (NCSP) has started reconstructing Novorossiysk Grain Terminal to raise its transshipping capacity to 6mn tons per year. Construction is planned to be completed by the end of 2011. According to experts, investments in the project may total around RUB 5bn (EUR 122.41mn USD 166.67mn). Capacity of the grain storage will rise from 120,000 to 160,000 tons of grain after modernisation. Handling capacity will increase by 2mn tons per year, against 4mn tons at present. Analysts characterise NCSP's project as well timed, because lack of transshipping facilities is observed in the South of Russia at present. The rise of transshipping facilities will intensify competition and reduce transshipping prices in the Black Sea basin. Capacity of another grain terminal in Novorossiysk (South), Novorossiysk cereal product enterprise, is planned to be raised from 1.5mn tons to 5mn tons as well.