Luxembourg and New York, March 10, 2011 Sodrugestvo Group has started construction on a new port complex in Kaliningrad, Russia.
The US$430 million project, scheduled for completion in 2013, will include a new deep-sea port terminal and soybean crushing plant. The Sodrugestvo Group has already invested more than US$600 million in port infrastructure and processing facilities in Kaliningrad since 2001.
In a ceremony yesterday commemorating the initiation of the project, several dignitaries including Viktor A. Zubkov, first vice-prime minister of the Russian Federation; Iliya I. Khlebanov, plenipotentiary representative of the president of the Russian Federation, northwest region; and Nikolay N. Tsukanov, governor of the Kaliningrad region, joined Alexander V. Lutsenko, Sodrugestvo’s chairman of the board, in laying the ceremonial first stone.
“Sodrugestvo’s continuing investment in our Kaliningrad facilities underscores our commitment to the Russian market which is critically important to our Group’s health and future growth,” said Alexander V. Lutsenko, chairman, Sodrugestvo. “This nearly half billion dollar expenditure will provide us with new production and storage facilities and new shipping berths that will allow us to increase our presence in Northern, Central and Eastern Europe.”
On behalf of the Russian Government, Mr. Zubkov said that “the increase of soybean processing capacities is strategically important to guarantee the food security of Russia and the success of the State-sponsored program to develop meat production.”
The new specialized port complex has been specially designed to support the import and export of dry bulk agricultural commodities and vegetal oils. It will contain three berths that can receive up to 50,000 metric tons (mt) ships, a new rail terminal with the capacity to handle 5,000,000 mt annually and additional storage capacity to house 160,000 mt of grains, 184,000 mt of dry bulk commodities and 30,000 mt of vegetal oils.
The new plant will add 5,000 mt of daily processing capacity to the existing 3,300 mt daily capacity at the existing Kaliningrad facility.
This blog is written by Martin Little The Global Miller, published and supported by the GFMT Magazine from Perendale Publishers.
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