New Far East Container Port At Posyet To Service The Primorsky International Transport Corridor

A new terminal for transhipment of various cargoes, including containers and grain, will be built in the port of Posyet in Primorsky Krai. Russia’s VTB bank are to finance the project, with a total investment of about ₽10 billion (US$106 million).

The corresponding agreement was signed during the recent Eastern Economic Forum in Vladivostok.

VTB stated that “We have opened a credit line to International Marine Transhipment Terminal (MMPT) for the implementation of an infrastructure development project in the Posyet seaport. With the support of the bank, a new terminal with a capacity of 8 million tonnes will be built in the village of Slavyanka. The terminal will be designed for sea transhipment of general, container and grain cargoes in all directions export, import and transit. The complex will also include a one-time storage elevator with a load of 30 thousand tonnes of grain.”

VTB board member Ruslan Eremenko said that “The development of transport and logistics infrastructure in the region is one of the priorities within the framework of the economic turn to the East. We see high investment activity of the Primorsky port workers and help in the implementation of projects to expand and modernise capacities. “We have already started a large-scale modernisation of the terminal in Slavyanka. We plan to significantly expand the mooring front, dredge the water area, and increase the length of the railway tracks. The warehouse complex will be updated and expanded, and modern port equipment will be installed. This will allow receiving and servicing large-tonnage vessels, create the basis for further development of the port and increase cargo traffic along the Primorsky International Transport Corridor.”

The International Marine Transhipment Terminal operates in Slavyanka, Primorsky Krai, within the boundaries of the Posyet seaport, which is an ice-free port on the Possiet Bay, about 200km south of Vladivostok and near to the Chinese border. Posyet port itself is part of the Primorsky International Transport Corridor, has access to the Trans-Siberian Railway, federal and regional highways, and services cargo to China and the Korean Peninsula. It is important for North China, as its Heilongjiang and Jilin Provinces, which include important industrial cities such as Harbin, Changchun and Jilin City are land-locked and need overland access to Russia’s Far Eastern Ports.

The Primorsky International Transport Corridor (PITC) is considered an important component for connecting the Eurasian Economic Union (EAEU) markets and China’s Belt and Road Initiative. Its development will change the existing transportation and port networks among neighboring countries and regions. Reaching as far as Dalian (Port Arthur) in China, it is envisaged that when the Northern Sea Route becomes more viable from about 2035, Russia and Chinese Far East ports will capture more than 60% of the international market in Northeast China and European trade.