Yuri Pognayev appointed acting Director General of Ust-Luga Company OJSC. Earlier, Pognayev held the position of the company’s Technical Director. According to PR Service of Ust-Luga Company OJSC, the decision was taken August 17 at the BOD meeting in connection with early termination of the powers of Igor Rusu resigning from his position.
Ust-Luga Company was founded in 1992. It is the customer-developer of the Commercial Seaport of Ust-Luga. Implementation of the project will enable the company to build the deepest port of Russia at the Baltic Sea capable of handling dry cargo carriers of up to 75,000 dwt. The largest shareholders of the company are Novyje resursy CJSC (20.04%), National Capital CJSC (16.48%), Leningrad Region (25% of shares + 1 share). In 2006, net profit of Ust-Luga OJSC under Russian Accounting Standard totaled 22.796 million rubles.