Far East Development Fund will allocate RUB 4.5 bln for construction of Vanino-Kholmsk ferries

Russia’s state-owned Far East Development Fund says it will partially finance the construction of ferries for the Sakhalin. The decision was made following the meeting of the Governmental Sub-Commission on implementation of investment projects in the Far East chaired by Yury Trutnev, Presidential Plenipotentiary Envoy to the Far Eastern Federal District.

In particular, FEDF will contribute to construction of two rail/motor and passenger ferries for Vanino-Kholmsk service by Amursky shipyard. The project is valued at RUB 10 bln. FEDF will provide RUB 4.5 bln to State Transport Leasing Company.  

The Vanino-Kholmsk service covers more than 75% of cargo traffic and about 25% of passenger traffic between the island and the mainland. 

Experts forecast the cargo flow to grow by 25% within the coming three years. The vessels are expected to be launched in 2019. 

Reconstruction of the ferry terminal facilities in Vanino and Kholmsk is scheduled for 2019.