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Joint venture company Russian Troika, made up of Russian Railways and the Far Eastern Shipping Company, has announced it will start building a RUB2 billion (US$77.4 million) container terminal in Vladivostok this summer.
Expected to handle 250,000 TEU annually by 2014, according to a report in The Vladivostok Times, Russian Troika intends to introduce seamless technologies at the terminal for the provision of complex transit services.
In the third quarter, the first stage of the terminal will commence construction, and when fully operational in 2010, will have a processing capacity of 120,000 TEU, according to the company. By 2011 the second stage will commence construction, adding the rest of the projected 250,000 TEU annual capacity by 2014.
It is understood that the terminal will be used by Hyundai, KIA Motors Corporation and LG enterprises to ship automotive parts.
The money to build the terminal will come from a combination of a share sale and borrowings, company officials told the newspaper.
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