LUGAPORT will strengthen ties between Russia and Europe
Published by Lydia Woellwarth,
Editor
Dry Bulk,
During the forum ‘4th Day of Entrepreneurs: Russia in Mecklenburg-Vorpommern’, held last week in St. Petersburg as part of SPIEF-2021, Deputy General Director of Novotrans Management Company Vyacheslav Petrenko said that the LUGAPORT terminal under construction by the holding would strengthen trade ties between Russia and the countries of the EU.
“With the completion of the construction of the LUGAPORT universal terminal by 2024, modern port facilities will appear in the North-West of Russia for export to Europe, including Germany, of the widest range of cargo. Also, the terminal can become a large logistics hub, providing reception and dispatch of groupage cargo, in particular, in the implementation of Russian-German trade operations. According to experts, the project will give a powerful impetus to the development of the export-import potential of Russia”, Vyacheslav Petrenko informed the forum participants.
In 2019, the holding, with the active support of Russian Railways and the Ministry of Transport of Russia, began implementing an investment project for the construction of a multi-purpose terminal LUGAPORT in the seaport of Ust-Luga (Leningrad Region). The project provides for the creation of terminals for transhipment of bulk, general, grain and food cargo. The total volume of transhipment at the terminal will be 24.3 million tpy, the processing capacity is planned at the level of 1100 wagons per day. Investments in the project will amount to over 46.5 billion rubles. The first stage of the complex is planned to be commissioned by the beginning of 2023, the second by the beginning of 2024 and the third stage by the end of 2024.
Read the article online at: https://www.drybulkmagazine.com/ports-terminals/07062021/lugaport-will-strengthen-ties-between-russia-and-europe/
You might also like
Reuters: US and China reach deal to slash tariffs, lifting dollar
The US will cut extra tariffs it imposed on Chinese imports in April this year to 30% from 145% and Chinese duties on US imports will fall to 10% from 125%, the two countries said on Monday, according to Reuters.