Second phase of Ust-Luga oil terminal to start operation in Q3 2009
In 2009, Ust-Luga Company OJSC will invest EUR 100 mln in completion of the second phase of the oil terminal, Sergei Vishnyakov, first deputy Director General of the terminal announced on Friday, according to RBC. Opening of the second phase is scheduled for the third quarter of the current year. For that purpose a EBRD loan was received, Vishnyakov says. The credit line is opened for 9 years.
In May 2009, Ust-Luga Company plans to open a container terminal. By 2015 the company also plans to buy 20 ship-towing tugs from Pella Leningrad Shipbuilding Plant OJSC. Each 4.5-h.p. tug costs EUR 5.5 mln. On February 6, Pella shipyard launched the forth tugboat built for Ust-Luga Company OJSC.
Ust-Luga Company JSC was established in 1992 for implementation of a project on construction of Russia’s new commercial seaport in the Luga Bay of the Gulf of Finland. Ust-Luga Company JSC has several lines of activity related to creation of the largest in Russia multipurpose commercial seaport Ust-Luga and complex social-economic development of the territories adjacent to the port.