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VEB and VTB to finance the construction of a coal terminal in Vanino - EastRussia | Far East

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The construction of a coal terminal in Vanino will be financed by VEB and VTB

The construction of a coal terminal in Vanino will be financed by VEB and VTB
Photo: Press Service of Colmar Group JSC

The construction of a transshipment complex in the port of Vanino in the Khabarovsk Territory will be financed by the state corporation VEB and VTB Bank. The corresponding loan agreement was signed with them by the company Vanino TransUgol, which is part of the Kolmar group. Investments to complete the project are attracted on the principles of a “project finance factory”.

According to the press service of the coal mining company, VEB, through lending, will finance a third of the cost of the project for the construction of the first stage of the terminal. Now the work is at the final stage, the installation of technological equipment and commissioning is in progress. The input is scheduled for 2020 year. Cargo turnover will amount to 12 million tons of coal, 600 new jobs will appear.

The company intends to build a second phase, which will increase coal turnover to 24 million tons per year. According to experts, the facility meets the highest international environmental safety requirements and will be included in the top 5 of Russian coal terminals. In addition to production facilities, coal miners are also working on creating social infrastructure. Service housing is being built in the district, work is being carried out with educational institutions to replenish the personnel reserve.