According to projects plans the terminal will be completed by 2008 and have a capacity of 10-12 million tons per year, later to be increased to an annual 30 million ton. The terminal project is part of a modernization programme for the whole port facility complex of Murmansk.
The press office of Arktikshelfneftegaz reports that Russian Minister of Transport, Igor Levitin, this September will approve the programme, which includes $2,5 billion of investments over the next 10 years. The programme will help increase the capacity of the Murmansk ports to a total of 78 million tons per year, of which 38 million tons will be dry goods and 40 million tons will be petroleum, RusEnergy reports.
Arktikshelfneftegaz will run the project in partnership with the two companies Kuzbassrazrezugol and Korporatsia Sintez.