Novorossiysk Commercial Sea Port Group reports resolutions approved by PJSC NCSP’s Board of Directors in a meeting dated 31 December 2015, which are subject to mandatory disclosure under Russian law.
To approve corporate regulations:
- Regulations on improvement of investment and operating efficiency and cost reduction;
- Regulations on quality management system;
- Regulations on development and implementation of innovative development programs.
NCSP Group is the largest port operator in Russia and the third-largest in Europe, in terms of cargo turnover. NCSP Group cargo turnover in 2014 totalled 131 million tonnes. Consolidated revenue to IFRS in 2014 totalled USD 956 million and EBITDA was USD 569 million. NCSP Group consolidates the following companies: PJSC Novorossiysk Commercial Sea Port, LLC Primorsk Trade Port, PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, OJSC NCSP Fleet, OJSC NLE, OJSC IPP, CJSC Baltic Stevedore Company, and CJSC SFP.