Basic Element completes construction of new Russian port
Basic Element Group, one of Russia’s leading diversified business groups, has announced the completion of the Imeretinskiy cargo port in Sochi, writes David Foxwell.
The port’s capacity is 5 million tonnes of cargo per year and provide a water depth of 9.2m. The total investment in construction of the port amounted to US$200 million. The project was carried out by Transstroy, part of Basic Element.
The port will deliver cargo and construction materials to the Imeretinskaya Valley, where most of the construction sites for the 2014 Winter Olympic Games (which will take place in Sochi) are located. The launch of the port will open the shortest track for the cargo delivery to the area. After the Winter Olympics, the port will be turned into a yacht marina.
Imeretinskiy cargo port is the only port of its type on the Sea of Azov and Black Sea basin to be built in the post-Soviet period. In addition, it is the only port to be built through a public-private partnership (PPP) in Russia.
The port has eight multipurpose mooring facilities for general and bulk cargo.
Once the 2014 Winter Olympics are completed the facility will be turned into a marine with capacity for 600-700 boats. Basic Element is working on this part of the project with leading European marina management operators.
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