Metalloinvest shipped out 2.2mn mt steel products from its Ust-Luga port built by Ultramar.
Port construction began in 2019 and the first shipment took place in October last year, the Russian steel producer said in a statement on Tuesday.
Metalloinvest plans to expand its export capabilities Ust-Luga following increased demand for high-quality iron ore across the globe. The modern logistics at the port aims to ramp up Russia’s export-import potential.
The company holds about 13.9bn mt of iron ore reserves, translating to nearly 137 years.