Multifunctional Cargo District, which will be an investor of the new port on Sakhalin, signed two agreements on the sidelines of the St. Petersburg International Economic Forum. The first cooperation document was signed with the regional administration, and then a concession agreement was signed with the Russian Federation represented by Rosmorrechflot, the company's press service told the Made in Russia project.

The parties will now work together to create a new deep-water port on the eastern coast of the island, which is to be built by the end of 2026 on the border of Sakhalin's Makarov and Poronaisk districts.

"The total investment in the project will be about 35 billion rubles. At the same time, 3.96 billion rubles will be allocated from the federal budget for infrastructure development. Oil and gas terminals, as well as a supply base, coal terminal and bunkering complex will be built within the framework of the new port", - the statement says.

The capacity of the oil terminal will be up to 5.5 million tons per year, the gas condensate terminal - up to 2.8 million tons, the coal terminal - up to 5 million tons. The port will be owned by the Russian Federation. The concession agreement will allow the investor to use it for 49 years.

Under the agreement, the regional administration will help the port to be included in the Yuzhnaya Special Economic and Social Development Territory, whose residents will receive tax preferences.

The agreement has been signed for five years with an automatic prolongation option.

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Author: Ksenia Gustova