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Russia's Expands its Largest Coal Port Vostochny

Coal News - Published on Mon, 09 Sep 2019

Image Source: arabnews.com
Reuters, citing Vostochny Port, reported that Russia has launched the third export line at its largest coal terminal in the Far East region, loading the first cargo for Indian company JSW Steel. Russia and India are forging closer ties amid chilling relations between Moscow and the West over the Ukrainian crisis, Moscow's alleged meddling in the elections in the United States and other issues.

The head of Russia's RDIF sovereign wealth fund said that the two nations are targeting USD 30 billion of annual trade by 2025. Indian investors are interested in investing in Russia's coal industry. Indian coal producer Coal India signed a deal to mine coking coal in Russia's Far East, while private company H-Energy is looking at buying liquefied natural gas from Novatek on a long-term basis.

Vostochny Port on the Russian Pacific coast said in its statement that launching the third line at the coal terminal doubled the port's loading capacity to 50 million to 55 million tonnes per year.

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Posted By : Rabi Wangkhem on Mon, 09 Sep 2019
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