Poltava mining-and-processing integrated works OJSC (PGOK), Transinvestservis LLC (TIS), owner of export-import terminal of bulk cargo in the port of Yuzhny (Ukraine), initiated construction of a transshipment complex for export of bulk cargo (ferrous ore, in particular); design capacity – up to 5 million tons. Thus transshipment capacity of TIS could be increased to 13 million tons per year.
Upon agreement of the parties, the new complex should be operated by TIS-Ruda LLC – joint venture incorporated by PGOK OJSC and TIS LLC. The project is said to be costing about $50 million. It is to be financed by both parties. The project’s advantage is the possibility to handle large shipload lots (TIS berths are up to 14 meters deep, while the approach canal to the port of Yuzhny is 18 meters deep). The delivery of the project is planned for May, 2007. TIS LLC operates three berths of the port of Yuzhny – No15-No17. Berth No 18 is currently under construction. According to the Ministry of Transport and Communications, the company is entitled to build six new berths.