Economy
The city sprawls along the shore of the non-freezing Tsemess Bay, which has been recognized since antiquity as one of the superior bays of the Black Sea.
The Novorossiysk Commercial Sea Port–with the market capitalization of $1,110,000,000 and shares listed at Moscow Exchange and London Stock Exchange–serves Russian sea trade with regions of Asia, Middle East, Africa] Mediterranean, and South America. It is the busiest oil port in the Black Sea and the terminus of the pipeline from the Tengiz Field, developed by the Caspian Pipeline Consortium.
Novorossiysk is also an industrial city, dependent on steel, food processing, and the production of metal goods and other manufactures. Extensive limestone quarries supply important cement factories in and around the city. The town is home to the Maritime State Academy and Novorossiysk Polytechnic Institute.
Read more about this topic: Novorossiysk
Famous quotes containing the word economy:
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)