Total investments into Ust-Luga port (Leningrad Region) to make RUR 1.157 billion in 2006, Igor Rusu, Director General of Ust-Luga OJSC, told at the press conference Friday. According to Rusu, investments of 2006 are comparable to the volume of investments of the last 6-7 years of active construction period. Ust-Luga OJSC informs that from the beginning of construction the investments into the port totaled RUR 16.447 billion including RUR 9.2 billion of private investments.
Rusu attributes investment growth to active position of the government. In 2006, investments of RZD (Russian Railways – government owned company) totaled RUR 0.567 billion. Allocation from federal budget double compared to those of 2005 – to RUR 2.14 billion. In 2006, Rosmorport FSUE invested RUR 0.37 billion into Ust-Luga port.
State investments entailed growth of equity investments. Total volume of investments doubled compared to 2005 having amounted to RUR 4.133 billion including 6-fold growth of Ust-Luga’s own investments amounting to RUR 2 billion in 2006.
In 2007, it is planned to invest RUR 10.06 billion into the port development RUR 9.07 billion of private investments. Volume of equity investments planned for 2007 is RUR 2.2 billion. Mjor part of equity investments is to be used for the development of the port’s southern part – RUR 1.7 billion, actually for the development of Yug-2 – multifunctional transshipment complex.