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Russia’s Railways subsidiary TransContainer Company and freight company TransGroup AS signed an agreement on Wednesday at a business forum in Sochi to construct a container terminal in the port of Zarubino, in southern Primorye.

The project, estimated at $100 million, is aimed to build a huge container terminal to service growing flow of cargoes arriving from the Pacific Rim countries via Trans-Siberian Railway, a press statement from TransContainer reported.

Zarubino is a non-freezing port in southern Primorye in close proximity to China, North Korea and South Korea.

The construction is scheduled to be realized in the next five years, the statement revealed. The terminal is planned to occupy a total area of 18 hectares and will have a projected capacity of 400,000 TEU (nine-foot equivalent units).

At the project’s first stage, a joint enterprise will be launched on parity basis to implement the construction of the terminal and its further exploitation.

TransGroup AS, one of Russia’s major transport expenditure companies, has been operating the port of Zarubino since 2004. Zarubino serves as a large multifunctional sea gate for Russia’s foreign trade cargoes receiving and handling large vessels.