Ust-Luga stockholders approve 28m rubles for dividend payment
Stockholders of Ust-Luga JSC (Leningrad region) decided to pay out dividends for 2009 at a rate of 379 rubles per common stock, Chairman Valery Izrailit said at a press conference following the results of the general meeting of stockholders.
Overall, the company set aside 28 million rubles for dividend payment, about 25% of 2009’s net income. The rest of the money will be directed on implement projects, for the development of the Yug-2 transshipping complex and for charity fund.
JSC Ust-Luga Company was established in 1992 for the construction of a new seaport in the Luga Bay of the Gulf of Finland.
Overall, the company set aside 28 million rubles for dividend payment, about 25% of 2009’s net income. The rest of the money will be directed on implement projects, for the development of the Yug-2 transshipping complex and for charity fund.
JSC Ust-Luga Company was established in 1992 for the construction of a new seaport in the Luga Bay of the Gulf of Finland.
Port of Ust-Luga is located on Russia’s border with the EU. A 3.7-km approach canal and 16-m deep harborage make the port of Ust-Luga the major Russian port on the Baltic Sea capable of accommodating ships with a capacity of over 150.000dwt. The port facilities allow handling 75.000-dwt bulkers and 120.000-dwt tankers. In 2009 the Ust Luga port handled 10.3 million tons of cargoes and 1.031 ships (517 inbound and 514 outbound).
Yug-2 (South-2) is a multi-purpose transshipment complex located at the 97.8 hectare yard of Ust-Luga Commercial Sea Port. The construction site is limited in the north by the Luga Bay waters, to the west – by road-railway ferry complex (RRFC), to the south – by the port’s infrastructure and rail access way to the Yug-2 terminal. The length of the waterfront piers is 1000 m. At the final phase of the terminal project it will be able to handle and store 4.6 million tons of cargo annually. The MTC automobile terminal's projected capacity is 450,000 new imported autos.