Ust-Luga JSC, implementing a project of the port of Ust-Luga, plans this autumn to establish a separate company "Transport and Logistics Complex," Ust-Luga Company said.
The spin-off company will focus on projects for development of warehousing facilities, transport and logistics business, while the parent company Ust-Luga JSC will engage in the development of the port infrastructure and environmental projects.
The Transport and Logistics Complex will create its specialized subsidiaries. There will be no changes in the two companies’ shareholders.
Ust-Luga Joint Stock Company was established in 1992 for the construction of new commercial seaport in the Luga Bay of the Gulf of Finland. The shareholders of the company are JSC Russian Railways (RZD) and the Administration of the Leningrad region.