Singapore’s Baoli Bitumina to invest $200 mln in Russian Far East ports

The Singaporean company will invest in port infrastructure in Vanino and Sovetskaya Gavan, which are across the Tatar Strait from Sakhalin Island

Singapore’s Baoli Bitumina is looking to invest around $200 million in the development of port infrastructure in the towns of Sovetskaya Gavan and Vanino, Sputnik News reported, citing a senior official with the Russian Far East Development Ministry.

The ports are in the Khabarovsk territory in the Russian Far East, across the Tatar Strait from the oil and gas-rich island of Sakhalin.

The Singaporean company is “interested in that region because the Baikal-Amur railway ends here,” Ivan Tonkikh, the head of the Investment Department with Russia’s Far East Development Ministry told Sputnik. “It’s a convenient transport and logistic spot.”

Baoli Bitumina would like to modernize the ports and set up an oil and gas export terminal, according to the report.

Tonkikh told the news agency that the Singaporean company had asked for 50 hectares of land in the region, adding that the Russian government would give it access to raw materials, infrastructure and tax benefits.

 

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