VolgaGroup, one of Russia’s largest investment groups announces the purchase of 50-pct share of the authorized capital of Sukhodol LLC which will build a specialized cargo port at Sukhodol Bay (Primorsk Territory).
The terminal’s design capacity is 20 mln t of coal per year. The construction will be performed jointly with Joint Stock Holding Company "Siberian Business Union".
The terminal is intended for coal export to the Asia-Pacific region: Korea, India, China, Japan. The construction is to commence in July-September 2014. The first phase with the capacity of 6 mln t per year is to be put into operation in July 2017.
The second and the third phases are to be put into operation in 2019 – 2021.
“The construction of the cargo port in Primorsk Territory will strengthen the positions of VolgaGroup in logistic segment amid the development of a strategic export cluster in the Far East which is focused on the markets of the Asia-Pacific region,” says Chlodwig Reuter, Chairman of VolgaGroup BoD.
Volga Group is one of the largest privately-held investment groups in Russia holding interest in 18 companies operating in Russian and foreign markets. Major shareholder - Gennady Timchenko. Strategic activities - energy, transportation and infrastructure development. In 2012, the Group’s consolidated revenue was USD 116 bln. Major investments of Volga Group: NOVATEK (23%), Gunvor (44%), SIBUR (37.3%), Transoil (80%), STG Group (63%).
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