Investment dues collected in Russia’s seaports in 2019-20 to be used for four projects

Investment dues collected in Russia’s seaports in 2019-20 are to be used for four projects complying with regulatory requirements set forth for financing with investment dues, Andrey Lavrishchev, General Director of FSUE Rosmorport, told journalists. According to him, those are the projects on construction of terminals in the Sukhodol Bay (Primorsky Territory) and Ultramar terminal in Ust-Luga as well as reconstruction of federally owned facilities in Murmansk and Maly Port terminal in Vostochny port.

The total of investment dues to be collected in 13 ports is estimated at RUB 7.5 – 8 billion per year. The size of investment dues will not exceed the amount needed for financing of the determined projects.

The list of ports for collection of investment dues has been submitted to the Federal Antimonopoly Service of Russia (FAS) for approval. Andrey Lavrishchev expects the collection of investment dues to begin this year.