• 2011 September 19 14:20

  Gulftainer and Ust-Luga Co to strike a deal in Q1, 2012

  

  Gulftainer Global Logistics Limited, a global operator of transport and logistics network, and JSC Ust-Luga Company plan to close a deal for the purchase of 25% + 1 share in JSC Transport and Logistics Complex by Gulftainer in the first quarter of 2012, Ust-Luga Company General Director told reporters. The agreement was inked by the two companies on September 16, 2011.
  

  The deal value was not disclosed but U-L Co’s General Director Maxim Shirokov hinted it might be some millions of euros.
  

  Besides, Gulftainer will reportedly invest at least EUR 192 million in the next several years in the port expansion.
  

  Ust-Luga Company says Gulftainer, experienced in logistics operations at sea ports, will help develop Multipurpose Handling Terminal "Yug-2", and Warehouse Logistics Centre (WLC), intended for handling and storage of rolling, general, container and other types of cargo.

  
  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.
  
  Commercial Sea Port of Ust-Luga is the largest and most modern Russia’s multipurpose seaport. Deep harbor (17.5 m) and a short approach channel (3.7 km) allow the port to handle 160,000dwt vessels.
  
  

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