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Sources to fund Russia’s Taman seaport project to be determined by April 2014

MOSCOW, December 29, 11:34 /ITAR-TASS/. A procedural, institutional and financial model of the development project of the Russian sea port of Taman on Taman Peninsula, bound by the Azov and Black Seas and the Strait of Kerch, and the railway lines to the Russian ports in the Azov and Black Seas should be submitted in the Russian government in April 2014. The deadline is set in the schedule of the project, which Prime Minister Dmitry Medvedev had approved. The project’s schedule was posted on the website of the Russian government on Sunday.

“The Taman seaport is being developed to shift the Russian freight traffic from the Black Sea ports in the neighbouring countries to the seaport Taman,” the document noted.

The Transport Ministry, the Ministry of Economic Development, the Finance Ministry, OJSC Russian Railways (RZD), the Taman branch of the Russian maritime shipping company are named to be in charge of developing a funding scheme of the project involving independent consultants. According to the project’s schedule, the Russian government should decide on the state support measures for the project in May 2014.

The project of a dry cargo terminal of the seaport Taman includes the construction of new port transhipment complexes, hydraulic facilities, public and energy utility facilities, railways and motor roads.

The project “will promote the development of the seaport Taman, creation of new transhipment facilities in southern Russia, the development of the transit freight traffic through the territory of Russia and country’s ports and the creation of new jobs in the region,” the government said. The sources of funding and attraction of investors in the project have repeatedly turned in the cornerstone in the debates on the project by the agencies concerned. The development project of the Taman seaport is designed up to 2020.

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