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Norilsk Invests in Port

Norilsk Nickel plans to invest 600 million rubles ($19.3 million) in the first phase of the construction of a loading terminal at Murmansk Port, company official Alexei Tyukavin said Monday.

Tyukavin said total investment in the first phase would eventually double, and handling capacity at the terminal will reach 650,000 metric tons per annum. The first site will be used for servicing vessels and storing freight.

The company said net profit for the first half of 2010 was up more than fivefold, to $2.35 billion. Sales revenue jumped 68 percent year on year to $6.84 billion, or slightly below a forecast $6.88 billion.


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