Oslo Marine Group completes negotiations with European Bank for Reconstruction and Development on taking of a loan to the amount of EUR 115 million for implementation of the first phase of Vyborg port modernization, the group informs. The money raised is to be spent for reconstruction of surface facilities, replacement of outdated port equipment, repair of roads, port railways, berths and hydraulic engineering facilities. It is also planned to expand the territory for container storage. Bank experts currently estimate the loan. The first phase of Vyborg port modernization is valued at EUR 233 million, one half of which is to be invested by Oslo Marine Group itself. Modernization of Vyborg port is to raise the port’s capacity to 10 million tonnes in 5 years.
The port of Vyborg was founded in 1293 on the crossroads of waterways between Finnish Gulf and navigable system of the Saimaa lakes and the Vuoksa river. Vyborg Port Ltd. was acquired by Oslo Marine Group in 2007 for diversification of its activities and creation of the Group’s transport-and-logistics complex in St. Petersburg and the Leningrad region.
As of today, the port handles mainly dry loose cargo (mineral fertilizers), dry bulk cargo (coal, cast iron, scrap metal), timber (round and sawn timber), general cargo (import steel and pipes, containers, fertilizers in big-bags, export pellets), liquid bulk cargo (lingosulphonates) etc.