The Russian federal agency Rosmorport and the Primorsk shipping complex are set to build a new port facility as part of a larger overall development of the nation's Baltic port. The project, dubbed the "Primorsky universal transshipment complex", is said to be the largest investment project on the Baltic coast in Russia - clocking in at around €2 billion. This forms plans to increase port capacity in the Baltic Sea, which will serve as a major transportation hub for goods travelling between Europe and Asia. Construction is expected to begin later this year and be completed by 2021.