Volga Group, Gennady Timchenko’s investment vehicle, has acquired a 50% stake in Sukhodol LLC, a company which is constructing a new bulk terminal in Sukhodol Bay, in the Primorsky region in Russia’s Far East.
Once completed the terminal is expected to have a capacity of 20 million tons per year. The project will be implemented with the SDS Holding Company.
The bulk terminal will be used for coal exports to Russia’s Asian-Pacific markets, such as Korea, India, China and Japan. Construction of the first stage is scheduled to be completed by 2016. Construction of stages 2 and 3 is scheduled to take place 2019-2021.
“Construction of the bulk terminal in the Primorsky region will significantly enhance Volga Group’s position in the logistics and infrastructure sector with a new export route, ” said Chlodwig Reuter, Chairman of Volga Group’s Board of Directors.
[mappress]
Press Release, February 26, 2014