Russias IPP (Novorossiysk, a subsidiary of Novorossiysk Commercial Sea Port) is preparing to construct a 3 million tonne a year fuel oil export trans-shipment terminal.
IPP is developing the design documents with the project aim to develop the capacities of IPP to handle dark oil products for export.
The investments in the project could total around USD30 million (22.3 million) with the payback period of six to eight years.
The relevant investment agreement was signed with the authorities of the Krasnodar Territory at MIPIM-2009 in Cannes.
The terminal will be built on the territory of the terminals cargo yard of NCSP located near IPP in the northwestern part of the city.
The facility will be launched in 2010.