Russia has announced plans to invest $3bn in a deepwater port in the town of Yantarny in its Baltic enclave of Kaliningrad.
The region’s authorities are preparing a business case for a facility able to handle up to 48 million tonnes of freight, which they will present to the Russian government.
According to business daily Kommersant, Russian president Vladimir Putin has already approved the project.
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Regional authorities will now present their proposals by 1 July, after which the government will decide on how to divide funding between the state and foreign investors.
The idea of a port in the enclave has been under discussion for the past 10 years, and a cargo and passenger port is already being built the city of Pionierskij. A port at Yantarny was previously announced in 2015. At that time it was billed as a regional feeder hub, and was justified by projection that the Baltic container trade would grow at 15% a year up to 2018.
Image: Russia’s Kaliningrad enclave (Dreamstime)