Novorossiysk Commercial Seaport OJSC has signed a number of investment agreements between the company’s subsidiaries and South-West Bank of Sberbank for $73 million, Finam.ru reports. The agreements are focused on expansion and modernization of facilities used for transshipment of grain, timber and liquid bulk cargo, as well as for improvement of the companies’ logistics.
The documents have been signed within the framework of financing of investment program ‘Novorossiysk Commercial Seaport’ totaling some $700 million and aimed at expansion and modernization of the port’sfacilities.
Novorossiysk Commercial Seaport (NCSP OJSC) is Russia’s largest multi-profile deep-water port and the fifth European port in terms of cargo handling volume. In 2006, NCSP OJSC the company handled 80.8 million tonnes of different cargoes including oil and oil products, grain, timber, metal, chemicals, container and general cargo as well as dry bulk cargo.