Volga Logistics to invest in Archangel's deep-water port

VOLGA Logistics Organisation plans to invest in the construction of a deep-water port on Mudyug island, near Archangel on Russia's western arctic.

The new port is expected to take five years to build at a cost of RUB50 billion (US$1.8 billion), with the federal budget providing RUB5 billion and private investors covering between RUB36 billion and RUB46 billion.

The new port, located in the Guba Sukhoye More, will be able to handle containers, break bulk, and service a cabotage fleet working northern oil and-gas fields. Annual throughput capacity will be 30 million tonnes, said the Russian Transport Daily Report.

The new deep-water port is said to be a continuation of the Belkomur project, a railway via the Perm Territory, the Komi Republic and Archangel.

Source: Schednet