OREANDA-NEWS. September 22, 2011. Holding “METALLOINVEST”, the Ministry of Transport and Krasnodarsky Krai are pleased to announce that they have signed a cooperation agreement to build a new port complex in Taman, Russia. The document was signed by CEO of Management Company “METALLOINVEST” Eduard Potapov, Russian Transport Minister Igor Levitin and Governor of the Krasnodarsky Krai Aleksandr Tkachev.

The agreement provides for the construction of a new port terminal and will facilitate iron-ore shipments, which are expected to reach 15 million tonnes per year. “As we seek to increase production volumes at METALLOINVEST’s enterprises, we have encountered logistical problems, which have required improving the existing transport infrastructure”, stated Eduard Potapov, while explaining the necessity of new port facilities.

According to Mr. Potapov, “the new port at Taman will ease the logistics of export shipments, and increase competitiveness as the private terminal will lead to lower transportation costs.”

The company's development strategy envisages a significant increase in production volumes at Holding “METALLOINVEST” enterprises over the next five-ten years, with the share of exports amounting to 75.5% of total shipments in the first half of 2011.

The port of Taman is part of the Federal Target Program "Development of transport system of Russia" for 2010-2015. The design process for the port is currently underway, and construction will be launched in the second half of 2012 according to the federal state unitary enterprise "Rosmorport". It is believed that the project’s implementation will significantly strengthen the position of the Russian mining and metallurgical industry in export markets.