7 Jul '08
The management of Nizhny Novgorod Port has announced plans to construct new river docks in the city's Sormovo district.
Construction is expected in two stages, with the first to involve some $8.5m of investment.
The port’s chairman Andrey Ryndovsky said today that if the city's Investment Council approves an application for a 30-hectare site just submitted by the company, in May 2009 the firm will begin construction of a quay, sites for inert materials (sand, gravel) and warehouse complexes.
As Marchmont recently reported, St. Petersburg-based developer Macromir is planning to set up a $800m multifunctional complex on the current site of the Nizhny Novgorod port.