Yeisk Port Elevator resold

Russian state-controlled grain exporter United Grain Company (OZK) has partnered the state-run seaport agency Rosmorport for the construction of a 20 Mtpa dedicated grain terminal at the country’s Pacific port of Zarubino, 80 km from Vladivostok.

Construction of a new 100,000t granary has started on the grounds of United Grain Company (OZK)-controlled Novorossiysk Grain Plant (NKHP), Russia’s second largest grain terminal, based at its key southern harbour.

Russia’s United Grain Company (UGC) has sold its 46% stake in the Yeisk Port Elevator (YPE) on the Russian coast of the Sea of Azov.

Russia’s United Grain Company (OZK) is planning to expand its port and grain storage capacities, and to establish its own rail operating company. The firm said it intends to increase its revenues from US$700M last year to US$2.6M by 2020. As part of its development strategy it will shortly acquire a new 1 Mtpa terminal in the Black Sea/Sea of Azov region, upgrade its existing grain terminal in Novorossiysk, build new grain elevators and reconstruct railway approach lines.

In a bid to improve access for its grain to the Asian Pacific markets, Russia has presented a project, dubbed the Far East Grain Corridor, aimed at doubling the country’s annual exports to the region to 10M tonnes by 2020.

The Port of Vancouver (WA) has signed an agreement with US-DoT that secures US$10M in funding for its West Vancouver Freight Access (WVFA) project.