Supervisory Council of the state corporation “Bank for Development and Foreign Economic Affairs” (VEB, Vnesheconombank) has approved a $545 mln loan for creation of port infrastructure in Ust-Luga, RBC cites Vnesheconombank Chairman Vladimir Dmitriev as telling journalists after the Council’s meeting.
According to Vladimir Dmitriev, the loan will be provided for an 8-year period to Rosneftebunker engaged in Ust-Luga infrastructure development. The bank head however refused to disclose the rate.
Vladimir Dmitriev highlighted that VEB’s extended participation in the project will drive the increase of crude and oil products transshipment in Ust-Luga port to 30 million tonnes per year with a possibility to raise it.
Ust-Luga Company JSC was established in 1992 for implementation of a project on construction of Russia’s new commercial seaport in the 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. In the first half of 2009, net profit of Ust-Luga Company under Russian Accounting Standard fell 21.3 times, year-on-year, to RUR 7.976 mln, the revenue decreased by 20.7% to RUR 177.445 mln.
According to Vladimir Dmitriev, the loan will be provided for an 8-year period to Rosneftebunker engaged in Ust-Luga infrastructure development. The bank head however refused to disclose the rate.
Vladimir Dmitriev highlighted that VEB’s extended participation in the project will drive the increase of crude and oil products transshipment in Ust-Luga port to 30 million tonnes per year with a possibility to raise it.
Ust-Luga Company JSC was established in 1992 for implementation of a project on construction of Russia’s new commercial seaport in the 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. In the first half of 2009, net profit of Ust-Luga Company under Russian Accounting Standard fell 21.3 times, year-on-year, to RUR 7.976 mln, the revenue decreased by 20.7% to RUR 177.445 mln.