Russia to Invest Over $3bn in Port Infrastructure

27 June 2010 (Last Updated June 27th, 2010 18:30)

Russia aims to spend around RUB103bn ($3.3bn) to develop infrastructure at its ports. Association of Sea Commercial Ports Investments and Development Committee head Dmitry Morozov said the amount would be used to develop Russian ports in 2010, according to turkishmaritime.com.tr.

Russia aims to spend around RUB103bn ($3.3bn) to develop infrastructure at its ports.

Association of Sea Commercial Ports Investments and Development Committee head Dmitry Morozov said the amount would be used to develop Russian ports in 2010, according to turkishmaritime.com.tr.

The estimated investments in ports infrastructure may reach RUB834bn ($26.7bn) by 2015, Morozov said.

The investment will not cover funding for renovation and construction of access roads to the ports and border crossing posts, the official said.