The United Grain Company (UGC) and Dalport have signed a letter of intent encompassing the development of a grain terminal at the Port of Vostochny on Russia’s Pacific Coast. They will invest $160 million in the new facility, which will have an export capacity of 3mt (million tonnes) by 2015, rising to 5mt by 2017. In 2020, Russia is expected to export up to 45mt of grain.
“We see the potential of the Siberian and Far Eastern federal districts to increase production and export of Russian grain. But the existing infrastructure for handling the needs of grain in the Far East meets neither the requirements of Russian grain producers nor the demand of rapidly growing Asian markets,” noted Sergey Levin, CEO of UGC.
BC