New deep-sea port to be built in Caspian Sea

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    A new deep-water port will be built in the Caspian Sea in Dagestan. Preference in selecting investor to participate in the construction of a new deepwater port near Kaspiysk in Dagestan will be given to the Russian company, although foreign investors have already announced their desire to enter the project.
    Report informs citing the TASS, in the framework of the St. Petersburg International Economic Forum, the first deputy minister of the Russian Federation for the North Caucasus affairs, chairman of the board of directors of the North Caucasus Development Corporation(NCDC) Odes Baysultanov.
    According to him the concept should be adopted within the next two months.

    Baisultanov noted that the port in Makhachkala after the creation of the new port will continue to work, “but new port will receive international status, to which all cargo transportation will be switched.” “Through Makhachkala, it is planned to launch a passenger flow, mainly internal,” he explained.
    The need to build a new port and modernize existing ones, according to the deputy minister, is conditioned by the need to enter the transport and freight streams that are forming now.