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Rostec will build a coal port in the Far East worth 1 billion dollars

Rostec plans to build a coal port Vera in the Far East worth about $ 1 billion, the company's press service reports. The state-owned company intends to attract part of the funds from budget sources, including from the National Welfare Fund.

Transport infrastructure - roads and railways - accounts for half of the project cost. The planned capacity of the port is 20 million tons.

The corresponding construction agreement was signed in December 2013 between the state corporation Rostec, FSUE Rosmorport and the project partner, the Korean Kowepo. "Now the project is being prepared, the land for the port has already been leased, the design work is being carried out by Rosengineering," said Andrey Korobov, General Director of Rostec - Global Resources.

The launch of the first stage of the port is scheduled for 2017 year, the second stage - for 2019-2020 years.

"Of the 20 million tons per year, about 70% can be reserved for the Korean and Chinese parties (Shenhua company), as well as for cargo from the Ogodzhinsky field," Korobov added. 

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