OREANDA-NEWS. On 30 June 2008 Novorossiysk Commercial Sea Port (NCSP) announced operational launch of the Novorossiysk Grain Terminal for shipment of grain and oilseeds with an annual capacity of 4 mln tons.

Trial cargo shipments at the terminal began in August 2007. At present, NZT (subsidiary of NCSP) received ownership certificates, operation permit from the Novorossiysk municipal architectural board, and findings of the Federal Service for Ecological, Technological and Atomic Inspection (Rostechnadzor) under the final checking procedure act.

Total volume of project investments amounted to \\$82.6 mln. General contractor appointed for construction of the terminal was the East Point Holding constructing company.

Novorossiysk grain terminal conforms to the high standards of environmental safety, material and software rates, which secures full automation of technological processes.

Igor Vilinov, CEO of NCSP, said: “The Novorossiysk grain terminal will become the fastest shipment complex in Russia, equipped with cutting-edge grain shipment technology. The launch of a modern complex that conforms to international standards will allow port to increase transshipment amounts and secure NCSP`s leading positions in the transshipment of this cargo. It will also allow cargo owners that carry out their export transactions through NCSP to significantly cut down their freight expenses. For instance, the loading of a PANAMAX-class vessel will now take 72 hours instead of an average 120 hours”.

Amongst the largest grain traders operating at NCSP are Russian and European companies like International grain company, AGRIKO TRADE & FINANCE S.A., Rosinteragroservice, BUNGE and VALARS. The launch of the Novorossiysk grain terminal is part of NCSP’s investment program aimed at enhancement of shipment capacity with a focus on highly remunerative cargoes.