The Russian government plans to spend between 20 and 25 billion rubles ($400 to $500 million) to expand and deepen the harbor of the Novorossiysk seaport to handle larger vessels, reports Moscow News.The project is set to begin 2016 and be completed by 2020.
The Russian government expects the expansion will boost container volumes at Novorossiysk by up to 15 percent annually in order to better compete with the Ukrainian’s largest ports. Novorossiysk is Russia’s second-largest port and currently accommodates vessels up to 6, 000 TEUs. Following expansion, the port will be capable of handling 10,000 TEU vessels.
The Ukrainian seaports Illichivsk and Yozhny deeper harbors and have grabbed some of Novorossiysk’s cargo. The project also calls for increasing the length of the berth at Novoroslesexport, one of the port’s largest terminals, from about 919 feet to 1,655 meters so it can handle Panamax vessels. Road and rail connections, including the reconstruction of a railway station, will also be expanded.
Container throughput at Novorossiysk, just like other Russian ports, has fallen by nine percent this year due to falling oil prices, economic sanctions and the decline of the ruble against international currencies.
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