Deripaska Seeks to Build Grain Terminal at Russia Black Sea Port

Russian billionaire Oleg Deripaska plans to build a grain terminal in a new port area of Taman on the Black Sea, his holding company Basic Element said.

The company asked the Transportation Ministry to allow it to build a terminal with capacity of 5 million metric tons a year, it said today in a statement. Basic Element plans to expand its agriculture operations through the project, as well as a bid for state-run trader United Grain Co., it said.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net