OREANDA-NEWS. April 24, 2012. Basic Element, one of Russia's largest diversified business groups, announced that through its subsidies, it is studying the prospect of building a grain terminal at the Taman seaport with an annual capacity of 5 million tones, reported the press-centre of Basic Element.        
 
Basic Element has submitted an application to the Transportation Ministry for permission to begin building a grain terminal on 6 March 2012. Basic Element is now consulting the Transportation Ministry and studying the possibility of land acquisition. The Agribusiness Directorate of Basic Element is planning to develop a grain terminal in partnership with En+ Logistics, the logistics arm of En+ Group. The investment contract could be signed by the end of Q3 2012.
 
Building a new terminal at the Taman seaport will work towards reducing the annual three to nine tonnes deficit in port facility capacity in the Azov-Black Sea Area, and will attract Russian cargo from Ukraine. The cargo flow is estimated to be 10-16 million tonnes annually in 2012 through 2015.
 
The Taman seaport development project includes the construction of more than 10 terminals with a total turnover of 90 million tonnes a year. The total planned investment totals approximately 150 billion rubles, two thirds of which will come from private sector. Private investors are scheduled to design and construct the terminal facilities for specific traffic flows after completion of the marine component design, which is scheduled for Q2 2012. The port is to start operations in 2015-2017.
 
"The grain terminal construction in Taman is a part of Basic Element’s agribusiness development strategy, which is our priority and aims to increase the company’s presence in the grain storage and processing market, along with Agroholding Kuban’s bid for United Grain Company’s additional share issue. We see grain terminal construction and the United Grain Company purchase as one of Basic Element’s strategic investments in the agribusiness,” said Andrey Oleinik, Managing Director of Basic Element’s Agribusiness Directorate.