BPA, to develop Nakhodka Port of Russia in earnest next year

The Nakhodka Port Development Project, a part of efforts to build global networks to increase Busan Port’s trade volume, goes into full development from next January. BPA decided to earmark KRW 17.5 billion to the e-RTGC plan, which will turn 90 fuel-based RTGCs into electricity-base ones.

The Nakhodka Port Development Project will be implemented through a joint venture with BPA, three domestic companies and DVTG, and a private Russian railroad company. BPA plans to transform the fishery port into a container terminal with 3 berths to deal with 2,000 container ships in 2010 and with 3 multipurpose berths to deal with 20,000 ton of cargos in 2014.

BPA said that the project was part of effort to establish a logistics stronghold in the Russian far east in response to an anticipated expansion of trade between Korean and Russia.

According to the e-RTGC plan, individual operators would foot the total costs of the transformation while BPA deducts KRW 17.5 billion of the expected total cost of KRW 26.8 billion from their rental fees until 2014. The transformation is expected to relieve the burden of high fuel prices and worries about carbon dioxide, helping change Busan Port into a more environmentally friendly one.