Putin approves moving financing for reconstruction of largest seaport in Sakhalin forward to 2024 - regional authorities

YUZHNO-SAKHALINSK. April 4 (Interfax) - Russian President Vladimir Putin has instructed Russian Deputy Prime Minister Marat Khusnullin to work on shifting the start of financing for the reconstruction of the Korsakov port, the main seaport of the Sakhalin region, from 2025 forward to 2024, the press service of the regional government said.

Governor of Sakhalin, Valery Limarenko, addressed the Russian President with a proposal to speed up the start of financing for the reconstruction of the Korsakov port, which would make it possible to begin construction work this year, the report says.

The head of the region explained that the allocation of federal funds for the reconstruction of the port is planned for 2025, "but it needs to be moved to this year."

"Okay. Let's do it," Putin said at a meeting with Limarenko on April 3 via video link.

The regional government considers the modernization of the Korsakov port "the key to the development of the region; the port will become the base for a logistics hub." The port is also part of the Northern Sea Route, the regional government press service said.

As reported, Russia's Glavgosexpertiza approved the project for reconstruction of the first stage of the Korsakov seaport at the end of September 2023. This would apply to the hydraulic structures of the Southern loading area, the part of the complex involved in the transshipment of general cargo, fish products and aquatic biological resources. The first stage of reconstruction is planned for completion in 2025, while the second is planned for 2027. The work will cost approximately 15 billion rubles. The goal is to establish a fish storage and processing business in the port.

The Korsakov port is the largest in the Sakhalin region, receiving up to 80% of the region's cargo. The port has six berths and 14 cranes.

Deputy Prime Minister and Plenipotentiary Representative of the Russian President in the Far Eastern Federal District, Yuri Trutnev said at the end of 2020 that transshipment at the Korsakov seaport after reconstruction could increase 20-fold, from 1.5 million to 30 million tonnes per year. As part of this project, it is planned to consolidate the shares of Korsakov Sea Commercial Port JSC under the management of the Sakhalin Region Development Corporation, he said. Information about the current owners of the port has not been disclosed.