The project of second phase of Baltic Coal Terminal (Ventspils port) worth EUR 50 million is expected to be completed by 2014, BCT’s Board Chairman Ilya Sokolov, said speaking on Thursday at the Baltic Forum, PortNews reported. He noted the project completion would depend on favorable market conditions.
The Coal Terminal Phase 2 includes the expansion by two times of indoor warehouse for coal storage - up to 420,000 tons. The warehouse facility is intended for storage of coal shipped by MPO Kuzbass, the co-owner of the terminal, and other customers.
After completion of Phase 1 of the terminal 210,000 tons of coal can be stored simultaneously at the warehouse facility, and 6 million tons a year. Investment in the P1 terminal project totaled EUR 80 million.
The Coal Terminal Phase 2 includes the expansion by two times of indoor warehouse for coal storage - up to 420,000 tons. The warehouse facility is intended for storage of coal shipped by MPO Kuzbass, the co-owner of the terminal, and other customers.
After completion of Phase 1 of the terminal 210,000 tons of coal can be stored simultaneously at the warehouse facility, and 6 million tons a year. Investment in the P1 terminal project totaled EUR 80 million.
BCT Board Chairman also noted the competitive advantages of logistics through the port of Ventspils: non-freezing harbor, state-of-the-art equipment and automation system that reduce the cost and time of loading and unloading operations.
Baltic Coal Terminal is a JV of two companies: CJSC MPO Kuzbass and Ventspils Commercial Sea Port. In 2010, coal throughput of the terminal amounted to about 2 million tons.