Vera Port Coal Terminal

This article is part of the Global Coal Terminals Tracker, a project of Global Energy Monitor.

Please visit Global Energy Monitor to download the dataset

Report an error

Sub-articles:

Coal terminals Coal exports Coal production Coal mines Coal reserves

Related-articles:

Global Coal Mine Tracker Global Coal Plant Tracker Largest coal mines in the world Environmental issues of coal Coal mine impacts from Covid-19

Vera Port is a coal terminal near Cape Otkytiy in Primorsky region, Russia.

Location

Loading map...

{"type":"SATELLITE","minzoom":false,"maxzoom":false,"types":["ROADMAP","SATELLITE","HYBRID","TERRAIN"],"mappingservice":"googlemaps3","width":"600px","height":"400px","centre":false,"title":"","label":"","icon":"","lines":[],"polygons":[],"circles":[],"rectangles":[],"copycoords":false,"static":false,"visitedicon":"","wmsoverlay":false,"zoom":15,"layers":[],"controls":["pan","zoom","type","scale","streetview","rotate"],"zoomstyle":"DEFAULT","typestyle":"DEFAULT","autoinfowindows":false,"resizable":false,"kmlrezoom":false,"poi":true,"cluster":false,"clustergridsize":60,"clustermaxzoom":20,"clusterzoomonclick":true,"clusteraveragecenter":true,"clusterminsize":2,"imageoverlays":[],"kml":[],"gkml":[],"searchmarkers":"","fullscreen":false,"scrollwheelzoom":false,"locations":[{"text":"","title":"","link":"","lat":42.95682537678547,"lon":132.29460278752916,"icon":""}]}

Background

In December 2013, Russian state technology conglomerate Rostec announced its plans to build a coal port in Russia's Far East. The project cost has been estimated at US$1 billion. About half of the funds would be spent on the construction of the transport infrastructure.

In September 2014 Rostec and China-based Shenhua Energy said they planned to invest up to US$10 billion in a coal mine project along with the coal terminal, mining the Ogodzhinsky coal deposit in the Amur region. Construction on the terminal was planned to begin in 2015 and become operational in 2018-2019.

In 2017, Shenhua Energy withdrew from the partnership, leaving control of the enterprise in the hands of Vostokugol, owned by Russian businessmen Alexander Isaev and Dmitry Bosov, and Port Vera Holding (PVC), owned in part by Rostec.

The first stage of the Port began operating in 2019. Its initial capacity was less than 7 million tonnes per year, although the exact figure was not disclosed. In its first year of operation, the port handled 1.35 million tonnes of coal. At the end of 2019, more than 7 billion rubles (approximately US$113 million) had already been invested in the project. In total, planned investments until 2023 amounted to 15.4 billion rubles. All investments were made from the investors' own funds.

In January 2021, a spokesperson for the terminal stated that by the end of the year the terminal's capacity would amount to 7 million tonnes. They expected the terminal to reach its design capacity of 20 million tonnes in 2022. An October update pushed back those dates: 7 million tonnes was now targeted for 2022, and 20 million tonnes listed as "long-term plans".

In 2022, the port handled 6.3 million tonnes, increasing from 5 million tonnes in 2021, with a plan to increase volumes to 20 million tonnes.

However as per 2024 reporting, it appeared that the expansion plans have been downscaled to 9 million tonnes. In 2023, the port handled 7.4 million tonnes of coal, with a plan to reach its design capacity of 9 million tonnes in 2024. Previously, the port was intended for handling coal from the Ogodzhinskoye deposit, but now it mainly handles coal from the Elginskiy Coal Mine.

Ownership

In April 2020, Dmitry Bosov fired his partner Alexander Isaev from the Vostokugol partnership due to claims of embezzlement. A month later, Bosov committed suicide. This triggered a corporate conflict emerged around ownership of the Vera Port. Ultimately, in January 2021, Bosov's heirs decided to sell their 50% stake in the Vera Terminal to Port Vera Holding (PVC) and Ogodzha, giving those entities 100% control over the port. The 50% stake was sold for 10 billion rubles (approximately US$133 million). PVC's owners included Rostec (25%) and two Russian businesspeople, Ekaterina Lapshina and Dmitry Novikov, who each own 37.5% stakes. Ogodzha was owned by Rostec (25%) and Lapshina (75%).

In February 2021, Lapshina and Novikov agreed to transfer their ownership shares to Rostec, giving it full control over both Port Vera and the Ogodzha mining project. The amount of the transaction was not disclosed. Then, in March 2021, A-Property acquired 75% control of both the port and the mining project.

In early 2024, it was announced that A-Property is planning to sell its ownership in Port Vera LLC.

Project Details

• Owner: Port Vera LLC
• Parent company: Rostec (25%), A-Property (75%)
• Location: Primorsky Krai, Russia
• Coal Capacity (Million tonnes per annum): 9
• Status: Operating
• In Service: 2019
• Type: Exports
• Source of Coal: Elginskiy Coal Mine, Sugodinsk-Ogodzhinsky coal mine
• Cost:
• Financing:

Project Expansion Details

• Status: Shelved
• Proposed Coal Capacity: 11
• Year:

Articles and Resources

Related GEM.wiki articles

• Global use and production of coal
• Coal terminals
• Coal reserves