Tuapse to spend $34.1m on 2018 investment

In a statement, the company said that the spending initiative provides for “further development and implementation of promising investment projects aimed at increasing the company’s cargo throughput and maintenance of its production facilities”.

Spending examined

Included in TCSP’s investment programme is a grain terminal overhaul venture – with expenses totalling over $15m – which is worth almost $63.7m and is scheduled to be finished in 2021.

The plan for the terminal makeover for 2018 covers the purchase of main material handling equipment, the completion of design works and the start of the construction phase.

Aside from expanding the range of grain cargo and boosting the terminal’s throughput to 3m tonnes, the venture foresees developing the port’s railway infrastructure, allowing the port to increase its handling capacity for all types of dry bulk cargoes.

Increasing ferrous metal volumes is another line of development for TCSP, and the company has set aside $11.2m through which it has ordered two 50-tonne Vityaz cranes and will buy two 25-tonne forklift loaders.

The new equipment will enable the port operator to transfer 60-tonne slabs from rail cars to ships and improve handling of steel coils with a maximum weight of 32 tonnes, the release said.

Under a long-term material handling equipment upgrade project, TCSP will also spend $4.2m on a 40-tonne Vityaz crane, two 2.5-tonne loaders for its fleet and material handling accessories.

2018 will also see TCSP spend $635,000 on existing facility capacity maintenance and to further upgrade emergency protection systems in the Oil Port area, with an eight-year programme ensuring eco-friendly and safe handling of oil products coming to a close.

TCSP also said that $967,643 has been set aside for maintaining its ro-ro terminal’s capacity in the 2018 investment programme, while $346,724 has been allocated under the spending strategy for purchasing auxiliary equipment for port security purposes.

Under an energy-saving and efficiency increasing project with a budget of $247,660, TCSP will also complete the building of a gas pipeline and the conversion of boiler stations to gas fuel.

Investments in other activities ensuring smooth and safe port operations, like environmental measures, electrical equipment renewal and upgrading the port fleet’s rescue and communication facilities, will come to $1.4m, according to the release.