The project foresees investment of at least RUB 35 billion
Gazprombank and Multifunctional Cargo Area LLC have a signed a document describing key terms of cooperation including the terms for financing the project on creation of a multifunctional cargo complex in the Sakhalin Region. The project foresees investment of at least RUB 35 billion. The agreement has been signed in the presence of Sakhalin Governor Valery Limarenko and Gazprombank First Vice-President Roman Panov, says press center of the bank.
The construction of a new deep-water seaport in the Sakhalin Region will be implemented through a public private partnership. The project is included into the Comprehensive Plan for Modernization and Expansion of Core Infrastructure (CPMI) in pursuance of RF President’s Executive Order on National Goals and Strategic Objectives of the Russian Federation through to 2024.
The port will be located relatively close to the Sakhalin shelf projects thus allowing for a minimum time of cargo transportation. The project envisages the construction of a supply base as well as oil, coal, gas condensate and bunkering terminals, and the related external infrastructure.
“The bank is an active player in the market of infrastructure projects. The construction of a seaport on the Sakhalin will be yet another ambitious project in the Far Eastern Federal District for us. With the introduction of a strategically important facility, handling of export cargo will increase and the time of cargo delivery to the offshore projects will decrease in the region”, said Pavel Brusser, First Vice-President – Head of Infrastructure Projects and PPP Department, Gazprombank.
“It is a major step towards implementation of the project strategically important for the development of Sakhalin and the entire Far East economy. The new port will ensure a material base for the development of shipping in the Pacific region and supply of everything necessary for the developing area”, said Aleksey Fert, Generl Director of Multifunctional Cargo Area LLC.
The port will be built phase by phase in 2022-2025 through a partnership with Gazprombank acting as a creditor and a financial advisor.
Multifunctional Cargo Area LLC with its co-owner Mikhail Skigin, a Saint-Petersburg businessman, has entered the Concession Agreement on construction of a new multifunctional cargo complex on the Sakhalin.
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