United Grain said the terminal would have capacity up to 12.5 million tonnes per year. A grain storage facility with capacity up to 300,000 tonnes of one-time storage also would be built on the site, the company said.

RIF, which is a leader among Russia’s grain exporters, may invest 8 billion rubles into the project, United Grain said.

RIF currently uses two southern ports for its shipments: the deep sea port of Novorossiysk and Kavkaz.