Assets of Baltic Coal Terminal up 45.4% to LTL 59.5 mln in 2008

In 2008, assets of JSC Baltic Coal Terminal increased by LTL 27 mln to LTL 59.5 mln by December 31, 2008, Delfi quotes Galina Molochkova, Marketing Director of the Baltic association Transport and Logistics, as saying this with reference to the materials of Baltic Coal Terminal shareholders’ meeting which has recently approved the report on company’s results in 2008.

Last year Baltic Coal Terminal focused on implementation of the following tasks – completion of the construction of the first phase of closed coal terminal and preparation of the terminal to business activities. For the project implementation a loan was provided by a banking syndicate (DnB NORD banka, UniCredit Bank, Latvian branch of Nordea Bank Plc).

The terminal and the berth were put into operation in December 2008 and the company’s loss totaled LTL 550,461, which is 50% less than it was planned.

The construction of the first phase of Baltic Coal Terminal with a total value of EUR 78 mln was the largest investment project of Ventspils port. In January-April 2009 the terminal handled some 600,000 tonnes of coal.