Metalloinvest signs a cooperation agreement to build a port facility in Taman

Russian metallurgical company Metalloinvest Holding, Russian Ministry of Transport and authorities of Krasnodarsky Region signed a cooperation agreement to build a new port complex in Taman, Russia. The agreement will facilitate iron-ore shipments, which are expected to reach 15 million mt per year.
 
The Metalloinvest's development strategy envisages a significant increase in production volumes over the next five-ten years, with the share of exports amounting to 75.5 percent of total shipments in the first half of 2011.
 
The construction of a new port facility is required due to Metalloinvest's development strategy foreseeing a production growth. Construction of the port will commence in the second half of 2012