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Nakhodka’s marine fishing port has recently started a three-year reconstruction project with a planned investment of $90 million.

The reconstruction works will modernize five working docks to create a container terminal while old warehouses will be eliminated, a press statement from Nakhodka’s administration reported Wednesday. The bid to carry out the project has been announced open for all construction companies of the Primorye region, the statement said.

Altogether, 11 old constructions in the port’s territory will be demolished. The space is needed for the operation of huge cranes.

“The projected capacity of the terminal will be about 400,000 containers annually,” the port’s general director Sergei Shindenkov said. “The increased volume will ensure maximum utilization of the port’s facilities, an increase in revenue and create more working space,” he was quoted by the press statement as saying.

The processing of fish and seafood cargo which annually makes up about 70,000 tons, or 5 percent of the port’s turnover, will be kept, Shindenkov said. Timber cargo processing will be stopped. The port intends to continue working with metal, cement and pipes which currently make up the bulk portion of cargoes, Shindenkov added.

The dockyards occupied with timber should be cleared out by June in order to start reconstruction. Vladivostok’s fishery and commercial ports have launched similar modernizations.

Nakhodka’s port management plans to allocate part of the reconstruction funds from the port’s revenue and issue an additional 5 million common stocks for shareholders. The lion’s share of investments is expected to come from foreign investors. During the recent visit of the South Korean delegation, a number of important cooperative intentions were signed, the press statement said.