A partnership construction venture between URALCHEM Freight and SIA Rigas tirdzniecibas osta (RTO) – RIGA COMMERCIAL PORT, for the building of a terminal to handle and store fertilizers has received approval of Riga City Council on 26th July this year.
The total value of the project is estimated to be around $ 70 million. The first phase with a handling capacity of 2 million tons annually is expected to go on stream by the 3rd quarter of 2013.
URALCHEM Freight and RTO have contracted an accord in 2009 to construct the terminal. For the purpose of completing the project the two have launched Riga Fertilizer Terminal with 51% participation from URALCHEM holding and 49% by RTO. Presently the project’s design stage will be completed soon. The project construction work is anticipated to commence in September 2011. The proposed facility will remain spread over to around 12 ha of area in the Free Port of Riga.
The proposed terminal construction will be built with advanced engineering, to enable storing and transferring of fertilizer within the covered facilities to safeguard the environment and to protect the people live in Riga.
Dmitry Konyaev, URALCHEM, OJSC’s, CEO, said that the construction of the terminal has become one among the important projects of the company. He added that the company is planning to have its own transshipment installations on the Baltic Sea to achieve improved flexibility in fulfilling customer demands, to bring down the transport costs and to optimize logistics flows and above all to improve the position of the company in the global market.