BPA seeks to redevelop Russian port into container facility

BPA seeks to redevelop Russian port into container facility The Busan Port Authority, along with a coalition of Korean logistics companies and shippers, has officially tied up with Russian logistics giant DVTG to develop a container port in the eastern Russian city of Nakhodka.
   The goal of the port, which would be redeveloped from a fishing port to a container facility in two or three phases, would be to tap into cargo from eastern Russia and northeastern China.
   BPA earlier this year stated its intention to develop ports outside of Korea, along the lines of how PSA International expanded from the Port of Singapore, with projects in Russia and Vietnam.
   The Nakhodka project is in its preliminary stages, with a memorandum of understanding signed between the Korean and Russian sides earlier this month. BPA said in a statement it will try to raise $21.2 million to fund the first phase of the project.