Some 120 billion rubles to be invested in Novorossiysk Port

About 50 billion rubles of the federal budget and about 70 billion rubles of private investors will be invested in modernization of railways and roads of the Novorossiysk Port (Krasnodar Territory) by 2020, the Kremlin cites Transportation Minister Maksim Sokolov.

The minister emphasized at a meeting for the Azov-Black Sea infrastructure modernization that the port was servicing only 66% of all the cargo turnover in the area. He said that new terminals for container transfer and cargo storage will be built.

Adapted from