BFC Gets OK for Turukhtanniye Islands Land Reclamation
- Business & Finance
Baltic Fuel Company (BFC) has been granted a permit by the Federal Marine and River Transport Agency (Rosmorrechflot) for the reclamation works at its Marine Oil Terminal “Turukhtannye Islands” facility in St. Petersburg.
The latest development follows BFC’s announcement from last month that it had signed an agreement with Rosmorrechflot for the 1.43 hectare Turukhtanniye Islands reclamation project.
Over the next 30 months, BFC will need to issue work documentation on the project, carry out land reclamation, backfilling and sheet piling operations.
The total cost of the project is estimated at over RUB 3 billion ($45.35 million).
Currently, the 7.3-hectare terminal has two berths for transshipment of oil products. With the new reclaimed land, the terminal’s annual throughput is to be increased to 2.4 million t by 2017 and to 4-5 million t by 2020.