State Corp. Bank for Development and Foreign Economic Affairs (Vnesheconombank, VEB) and JSC Rosneftbunker have entered into an agreement for a $ 200m Facility. The agreement was signed by VEB’s Board member, Deputy Chairman Anatoly Ballo and Rosneftbunker CEO Konstantin Hamlay, the VEB press release said.
The Facility of Vnesheconombank will be directed to complete the financing of the project "Construction of a liquid bulk cargo in the commercial seaport of Ust-Luga (Leningrad region)” and is provided within the overall limit of project financing in the amount of $ 545 million.
The total project cost will be about 26 billion rubles. The terminal is designed for transshipment of petroleum products at amount of more than 20 million tons a year.
Port of Ust-Luga is located on Russia’s border with the EU. Its 16-m deep harborage and a 3.7-km-long approach canal make Ust-Luga the only Russian port on the Baltic Sea capable to accommodate 75,000dwt bulkers and 120,000dwt tankers. In 2009, the port of Ust-Luga handled 10.3 million tons of cargoes. There were 1.031 ships calls at the port last year (517 arrivals and 514 departures).
The Facility of Vnesheconombank will be directed to complete the financing of the project "Construction of a liquid bulk cargo in the commercial seaport of Ust-Luga (Leningrad region)” and is provided within the overall limit of project financing in the amount of $ 545 million.
The total project cost will be about 26 billion rubles. The terminal is designed for transshipment of petroleum products at amount of more than 20 million tons a year.
Port of Ust-Luga is located on Russia’s border with the EU. Its 16-m deep harborage and a 3.7-km-long approach canal make Ust-Luga the only Russian port on the Baltic Sea capable to accommodate 75,000dwt bulkers and 120,000dwt tankers. In 2009, the port of Ust-Luga handled 10.3 million tons of cargoes. There were 1.031 ships calls at the port last year (517 arrivals and 514 departures).