PJSC Novorossiysk Commercial Sea Port (RTS & MICEX: NMTP, LSE: NCSP) has launched into operation new oil products handling terminal, adding some 1 million tons per year in throughput capacity. The project was completed in a little less than a year, investments totaled USD 35.7 mln. The terminal is operated by PJSC IPP, a subsidiary of NCSP.
The special technological feature of this terminal is its versatility, which permits handling both diesel oil and gasoline. Launching this capacity now allows to benefit from additional volumes of oil products already in 2008.
The project provides for considerable increase in tank capacity and reconstruction of the pipeline to the berth. Total tank capacity of PJSC IPP, available for oil products handling, increased from 51 to 78.9 thousand tons.
The total throughput capacity of PJSC IPP has now reached some 6.5 mln. tons per year, most of which accounts for oil products handling, and some 1 mln. tons per year – for UAN liquid fertilizer.
Increasing oil products handling will contribute to company’s business diversification and strengthen its competitive position in this market.
Expansion of PJSC IPP terminals is a part of the PJSC NCSP’s complex investment program aimed at increasing handling capacity of the port with a focus on high-margin cargo.
According to the Association of Sea Ports, PJSC Novorossiysk Commercial Sea Port is the largest Russian port operator in terms of cargo turnover. NCSP consolidated cargo turnover in 2007 totaled 79.4 million tonnes. PJSC NCSP is listed on the London Stock Exchange and Russia's RTS and MICEX. In 2007 NCSP’s earnings for 2007 totaled US$ 483.4 million, EBITDA -- US$ 227.9 million, and net profit -- US$ 93.7 million (according to consolidated financial statements under IFRS).
NCSP group includes the six stevedoring companies: PJSC NSCP, PJSC Novorossiysk Grain Terminal, PJSC Novorossiysk Shipyard, PJSC NCSP Fleet, PJSC Novoroslesexport, PJSC IPP, and Baltic Stevedoring Company Llc.
The special technological feature of this terminal is its versatility, which permits handling both diesel oil and gasoline. Launching this capacity now allows to benefit from additional volumes of oil products already in 2008.
The project provides for considerable increase in tank capacity and reconstruction of the pipeline to the berth. Total tank capacity of PJSC IPP, available for oil products handling, increased from 51 to 78.9 thousand tons.
The total throughput capacity of PJSC IPP has now reached some 6.5 mln. tons per year, most of which accounts for oil products handling, and some 1 mln. tons per year – for UAN liquid fertilizer.
Increasing oil products handling will contribute to company’s business diversification and strengthen its competitive position in this market.
Expansion of PJSC IPP terminals is a part of the PJSC NCSP’s complex investment program aimed at increasing handling capacity of the port with a focus on high-margin cargo.
According to the Association of Sea Ports, PJSC Novorossiysk Commercial Sea Port is the largest Russian port operator in terms of cargo turnover. NCSP consolidated cargo turnover in 2007 totaled 79.4 million tonnes. PJSC NCSP is listed on the London Stock Exchange and Russia's RTS and MICEX. In 2007 NCSP’s earnings for 2007 totaled US$ 483.4 million, EBITDA -- US$ 227.9 million, and net profit -- US$ 93.7 million (according to consolidated financial statements under IFRS).
NCSP group includes the six stevedoring companies: PJSC NSCP, PJSC Novorossiysk Grain Terminal, PJSC Novorossiysk Shipyard, PJSC NCSP Fleet, PJSC Novoroslesexport, PJSC IPP, and Baltic Stevedoring Company Llc.