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:
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
“War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?””
—Doris Lessing (b. 1919)
“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)