Development strategy of OJSC Novorossiysk Commercial Sea Port (NCSP) to diversify the cargo turnover after its majority stake acquisition by Transneft company and Summa Capital will be maintained, Transneft’s President Nikolay Tokarev said in an interview with Interfax agency.
"We are not seeking changes in strategy of NCSP aimed at diversifying its freight turnover. Actually, as an oil transporting monopoly, we are interested in boosting oil transshipment, but, I stress again, not neglecting other segments of cargo," Mr. Tokarev said.
Nikolai Tokarev said the investments program aimed at diversifying the turnover of both ports (including general cargo) or strengthening of a particular line of business should be a basis for a new strategy for the combined port company.
Transneft and Summa Capital had announced their plan to create one of Europe's largest port operators by combining the stevedoring companies in Novorossiysk and Primorsk (Leningrad region). It had been reported that OJSC Novorossiysk Commercial Sea Port would purchase a 100-percent stake in Primorsk Commercial Port LLC (PCP, Leningrad region). The deal cost was previously estimated at $2.15 billion. To pay for the asset NCSP is going to obtain a $1.95m credit for 7 year. Then beneficiaries of NCSP will sell a major stake in the merged company to Transneft and Summa Capital.
"We are not seeking changes in strategy of NCSP aimed at diversifying its freight turnover. Actually, as an oil transporting monopoly, we are interested in boosting oil transshipment, but, I stress again, not neglecting other segments of cargo," Mr. Tokarev said.
Nikolai Tokarev said the investments program aimed at diversifying the turnover of both ports (including general cargo) or strengthening of a particular line of business should be a basis for a new strategy for the combined port company.
Transneft and Summa Capital had announced their plan to create one of Europe's largest port operators by combining the stevedoring companies in Novorossiysk and Primorsk (Leningrad region). It had been reported that OJSC Novorossiysk Commercial Sea Port would purchase a 100-percent stake in Primorsk Commercial Port LLC (PCP, Leningrad region). The deal cost was previously estimated at $2.15 billion. To pay for the asset NCSP is going to obtain a $1.95m credit for 7 year. Then beneficiaries of NCSP will sell a major stake in the merged company to Transneft and Summa Capital.