An agreement of intent has been signed between the Arctic Transport and Industrial Centre Arkhangelsk JSC and Beijing based Poly International Holding Co. to construct a deep-water port north of Arkhangelsk, European Russia, reported The Barent Observer.
The Port, which is aimed to be capable of handling 30 million tonnes of cargo by by 2030, will be located by Mudyug Island, 55 kilometres north of Arkhangelsk and near current mega-ship ready port facilities.
It is expected that this new development will open up new trade routes between Russia and Europe, the Asia-Pacific market and the US; the port will have the facilities to operate year-round, including the frozen winter months, and will serve operations for ice-breakers travelling through the arctic.
In early September, 2016, DP World and the Summa Group, a diversified business with significant infrastructure investments in Russia, signed a Memorandum of Understanding (MoU) to explore investment opportunities in ports, special economic zones and inland logistics facilities in the Russian Federation.
The news of the Artic-ready comes after delegates gather in London for an International Maritime Organization meeting, a coalition of international non-governmental organisations named The Clean Arctic Alliance, calling for an end to the use of heavy fuel oil (HFO) in Arctic waters.