In late March Company Ust-Luga OJSC and Asia Invest LTD (Kazakhstan) signed a Memorandum of intent to build a complex in the seaport of Ust-Luga for transshipment of general cargo in favor of Kazakh cargo owners, the company informs.
The new complex is to handle over 4 million tonnes of export-import and transit cargo per year. Supposed volume of capital investment is to make RUR 7 billion. The first phase is to be put into operation in 2012.
Ust-Luga Company OJSC was founded in 1992. It is the customer-developer of the sea trade port of Ust-Luga (Ust-Luga Bay in the Gulf of Finland). Construction of the sea trade port of Ust-Luga is carried out within the framework of federal special-purpose program for Modernization of Russia’s Transport System at the basis of state-and-private partnership. The port is to service growing volumes of Russia’s foreign trade. The capacity of this multi-purpose port is up to 120 million tonnes of cargo per year. By 2010, the port’s throughput is to reach 36 million tonnes.