UCLH to inject RUB 19 billion in expansion of FSC’ terminal
Universal Cargo Logistics Holding (UCLH) plans to invest RUB 19 billion in the construction of the second phase of Forth Stevedoring Company’s container terminal located at Big Port St. Petersburg, the Holding’s official said.
The terminal expansion is scheduled to be completed by 2014, UCLH’s managing director Oleg Bukin told journalists at an inauguration of the Group’s container terminal in St. Petersburg. As a result, the terminal's annual capacity could reach 1.2 million TEUs, versus 500, 000 TEUs handled at the facility.
The expansion project will be financed 50/50 through the Group’s own funds and bank loans.
Mr. Bukin noted that the terminal is unlikely to reach the projected volumes in 2014, but was sure about 2015-2017.
Russian Deputy Transport Minister Viktor Olersky who also attended the terminal inauguration said that all container facilities based in the Baltic Sea are now in demand and that we could hardly expect a decline in container trade, as it was in the 2008-2009 period.
Dutch-registered Universal Cargo Logistics Holding (UCL Holding) is an international transport group comprising a number of shipping, shipbuilding, railway, logistics and stevedoring companies based in Russia. The Group owns terminals at Sea Port Saint-Petersburg and Universal Handling Complex in the North-West Russia; southern ports of Tuapse and Taganrog. UCLH is a majority owner of Volga-Balt Transport Holding (VBTH).
The terminal expansion is scheduled to be completed by 2014, UCLH’s managing director Oleg Bukin told journalists at an inauguration of the Group’s container terminal in St. Petersburg. As a result, the terminal's annual capacity could reach 1.2 million TEUs, versus 500, 000 TEUs handled at the facility.
The expansion project will be financed 50/50 through the Group’s own funds and bank loans.
Mr. Bukin noted that the terminal is unlikely to reach the projected volumes in 2014, but was sure about 2015-2017.
Russian Deputy Transport Minister Viktor Olersky who also attended the terminal inauguration said that all container facilities based in the Baltic Sea are now in demand and that we could hardly expect a decline in container trade, as it was in the 2008-2009 period.
Dutch-registered Universal Cargo Logistics Holding (UCL Holding) is an international transport group comprising a number of shipping, shipbuilding, railway, logistics and stevedoring companies based in Russia. The Group owns terminals at Sea Port Saint-Petersburg and Universal Handling Complex in the North-West Russia; southern ports of Tuapse and Taganrog. UCLH is a majority owner of Volga-Balt Transport Holding (VBTH).