Sochi Port Investment at $612M

The federal government is investing 19 billion rubles ($612 million) in Sochi's sea port to prepare it for the Olympics, said Viktor Vovk, deputy head of the Federal Sea and River Transportation Agency, Interfax reported.

The funds are being used for creating seven terminals at the port, a cargo zone next to the port for facilitating the loading of construction-material supplies, and infrastructure for international passenger traffic.

Work on the seven terminals is complete and the cargo zone has been built, Vovk said, adding that the port could handle ships with up to 8-meter drafts and was capable of processing 5 million tons of freight per year. Two docks are being made to handle cruise ships of up to 300 meters length each, and another dock will be completed that can handle ferries carrying up to 500 passengers.

(MT)

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