Oslo Marine expands area at St. Petersburg port

The group Oslo Marine has obtained into management the site of the Baltic Ship Mechanical Plant (BSMZ) with the area of 11 hectares at the St. Petersburg port.
The structure and the sum of the deal are not disclosed. The group reckons the property complex of the plant at RUR 15bn (US$ 0.64bn EUR 0.41bn). The deal enabled Oslo Marine to expand its areas at the port to 36 hectares and obtain five berths. The group also owns the terminal Onega with the area of 15 hectares, 2.5 hectares currently used. The terminal does not have own berths. It uses the neighbouring piers of the Sea fishing port. Oslo Marine possesses ten hectares at Western Terminal as well. Initially, the group will keep on handling timber, refrigerated and bulk cargoes, as BSMZ has done it before. Oslo Marine is planning to organize a terminal for rolling and container cargoes on the basis of its new site. About EUR 300mn (US$ 467.14mn) are intended to be invested in this project, Logistics Finland reports according to RZD-Partner.