Gennady Timchenko terminal plans near Vanino

As reported in Russian business daily Kommersant (31 October 2012), Gunvor co-owner Gennady Timchenko is now planning to build a terminal near Port Vanino, acquiring through Volga Resources the company Sakhatrans, which owns approximately 200 hectares of land near the port.

According to market sources, Timchenko plans to build a coal and iron ore concentrate transshipment terminal there with a capacity of up to 12 million tonnes at a cost of up to USD 250 million. At the same time, Timchenko may find ways of saving on the cost if the Ministry of Economy proceeds with plans to accord Vanino Port the status of a free economic zone.

It is also possible that Timchenko will subsequently use the land to build further terminals.

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