Russia is planning on building a new deep-water in its Baltic enclave of Kaliningrad after it won the support of President Vladimir Putin, according to national reports.
The proposed $US3.1 billion shipping hub will reportedly have an annual 48-million-ton capacity and will include logistics infrastructure, such as railways and roads as the country looks to improve its maritime strength.
Investment for the project is going to be largely from private donors with one-quarter of the sum coming out of the government’s budget.
The regional authorities will present business case-proposals by July 1, at which point the exact division between state and private funding will be decided by the Russian government by September 1.
The project for the new mooted new port has been under consideration since 2000. A cargo and passenger port is already being built in the nearby city of Pionierskij and a port of Yantarny was announced in 2015.
Russia dominates the proposed Arctic Northern Sea Route and is at the top end of the International North-South Trade Corridor (INSTC), which stretches down to India and the Indian Ocean.