Russia’s Transport Ministry wants new terminal at Ust-Luga Port

Russia’s Transport Ministry has suggested building a new terminal to handle liquefied petroleum gas at the Ust-Luga port, the ministry said in a draft regulation posted on its website.
Under the regulation, within the next three months the ministry is to prepare a project for extending the Ust-Luga port boundaries.
Operating company Ust-Luga, which carries out construction works at the sea port, earlier signed an agreement with state-owned Vnesheconombank (VEB) and the Federal Center for Project Finance on large-scale port development.
Under the project, Ust-Luga planned to invest RUB 530–600 Billion (EUR 13.5-15 Billion) into the construction of an industrial zone, a new town, as well as into developing the transport, logistics, recreation, and agricultural sectors.
Source: www.rzd-partner.com