Shareholders of Novorossiysk Commercial Sea Port OJSC have approved a loan to be provided by the company to its subsidiary (Novolesexport OJSC) to the amount of $49.8 mln. The decision was approved at the general meeting of shareholders held on September 26, the company informs.
The loan to be provided for 3 years at maximum 7.5% of annual interest will be spent for expansion of timber and construction terminals’ facilities.
Novolesexport OJSC specializes in transshipment and storing of timber and containers in Novorossiysk port being part of Novorossiysk Commercial Sea Port.
Novorossiysk Commercial Sea Port OJSC is the largest stevedoring company of the port of Novorossiysk – a deepwater ice-free multi-purpose port of the Black Sea which is a southern gateway for shipment of a wide range of Russian import and export including crude, oil products, timber, grain, ferrous metal, containers, automobiles, etc.). In 2007, the Group handled some 96% of all cargoes handled in the port. Novorossiysk Commercial SeaPortNovolesexport OJSC, IPP OJSC and Baltic Stevedore Company LLC. comprises the following stevedoring companies: Novorossiysk Grain Terminal OJSC, Novorossiysk Ship Repair Yard OJSC, NCSP Fleet OJSC,
