At the international forum Sochi-2016 last week Tuapse Sea Commercial Port (TSCP) and the Administration of Krasnodar region of Russia signed a letter of intent to invest 3.6 bln rubles (apprx. USD 58 mln) into the reconstruction of the grain terminal complex.

The project will involve construction of 7 metal silos for storage of grain cargo, with total capacity of 61.78 th. tons, a railway station to unload the rail wagons and railtracks for marshalling trains. The assets will be located at three land plots within the boundaries of the sea port of Tuapse which are rented by the investor.

After the reconstruction, the volumes of handling grain cargoes in the port are expected to grow from 2 to 3 mln. tons. The construction works are planned to finalize in year 2020.

JSC “Tuapse Sea Commercial Port” is one of the largest operators of the deep-sea port of Tuapse (13.5m depth) in Krasnodar region in the south of Russia and one of the country’s largest stevedoring companies. The company provides a full range of handling services for liquid oil and dry cargoes, and features specialized complexes for grain transshipment and ro-ro cargoes. It is part of the international transportation group UCL Holding, which also owns the following stevedoring companies: Taganrog Sea Commercial Port, Sea Port of Saint-Petersburg, Container Terminal Saint-Petersburg and Multipurpose Reloading Complex in Ust-Luga.

Tuapse cargo turnover in 2015 was 14.7 mln. tons.