The deal is in line with Mechel's diversification plan to develop its own transport infrastructure.
The Temryuk-Sotra seaport is located at the Taman shore of the See of Azov and is mainly used for small tonnage, river-sea type vessels in Southern Russia.
Mechel said Temryuk-Sotra will now specialise mainly in coal trans-shipment, with competitive advantages in the port's location, proximity to sea communications, year-round navigation, and available railroad and highway accesses.
With the existing depths at the site, the port enables the use of river-sea vessels up to 5,000K tonnage, matching ship capabilities of the Black Sea, Mediterranean, and the mainland waterways in West Europe.
"In line with Mechel's strategy to develop its global transportation scheme and expand geography of its logistic routes, we acquired the Temryuk-Sotra seaport in addition to the commercial ports of Posiet and Kambarka already owned by Mechel," Mechel CEO Vladimir Polin said.
"This acquisition will provide us with even more capabilities to regulate logistics of our deliveries, including our export shipments, minimize dependence on transport market conditions, and deliver products from producer/seller to end consumers avoiding brokers, thus reducing our transportation costs, increasing flows of traffic, and expanding our sale markets."
