September 6, 2011 [TankTerminals.com] - Administration of Novorossiysk will hold a public hearing on September, 21, about the possible environmental impact of Novorossiysk Fuel Oil Terminal currently being constructed in the Russian Black Sea port - Novorossiysk.
Hearings will be headed by deputy head of security and civil protection, head of interaction with law enforcement authorities, Valery Lissitzky. The decision to hold the hearings has been taken by the City Council.
In 2010, the tank farm, rail and jetty infrastructure at the terminal have been built. The total investment in 2010 amounted to $48.2 million, including a $34-million investment of Novorossiysk Sea Trading Port (NCSP), which has a 50% stake in the terminal. The start-up of facility is expected at the end of 2011 – beginning 2012. In August 2011, NCSP announced the plans to borrow $110mn from Raiffeisenbank on security of its 50% stake in the Novorossiysk Fuel Oil Terminal for further development of the terminal.
The terminal will have an initial storage capacity of 82 thousand cubic meters, two rail tank car loading points, pipeline and other terminal facilities. Total investment is estimated at $234.7 million, of which $85 million is invested by NCSP.
The port of Novorossiysk is the biggest oil outlet in the Black Sea and handles large volumes of Russian crude and refined oil products as well as crude oil from Kazakhstan and Azerbaijan via the CPC (Caspian Pipeline Consortium).
