FSUE Rosmorport and Novotrans Group have signed an agreement for the implementation of LUGAPORT project in Ust-Luga, Russia.
The agreement on cooperation under the LUGAPORT project was signed by Andrey Lavrishchev, General Director of FSUE Rosmorport and Konstantin Goncharov, President of Novotrans Group.
According to PortNews, the agreement foresees that Rosmorport will create federally owned facilities including deepening of the waterway and installation of aids to navigation.
The new terminal water area is to occupy 98 hectares and to have a depth of up to 17.5 meters with a scope of dredging estimated at 11.5 million cbm.
This will allow the terminal to accommodate Panamax ships.
LUGAPORT terminal with annual capacity of 24.3 million tonnes is intended for handling grain, dry bulk, general cargo and food cargo.
The deadline for putting the terminal into operation is the end of 2024.