The Moscow Times
As officials scowl at the cargo that goes out through foreign harbors, the government is making headway on a plan to build a $7 billion port on the Black Sea.
The Port of Taman will open in 2019 to handle dry cargoes, such as grain and coal, Transportation Minister Maxim Sokolov said Tuesday.
Sokolov updated President Vladimir Putin on the work to build the port in the first of a series of port-related meetings with the head of state, the Kremlin said.
Putin said he initiated the meetings because of high congestion at most of the country’s key ports, which hamstrings foreign trade, he said.
“The terminals are now strained to the limit,” Putin said.
A substantial chunk of the cargoes travels through the ports in the Baltic countries like Latvia and Estonia.
“It’s a downright loss of revenues for Russia,” Putin said.
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