NCSP Group (LSE: NCSP; MICEX: NMTP) reports that on March 22, 2012 the management of PJSC NCSP participated in a meeting with representatives of "Rostransmodernizatsiya", "Russian Highways" and Administration of Novorossiysk, dedicated to implementation of the project "Integrated Development of Novorossiysk transport hub”.
The project has been worked out under the Federal Special-Purpose Program ”Russian Transportation System Development 2010 - 2015" and envisages plans to increase Novorossiysk port’s capacity
The project includes road, rail and logistics components.
The presentation of road component of the project "Integrated Development of “Novorossiysk transport hub" has been discussed during the meeting. The project provides for a change in transport layout of cargo delivery to the port of Novorossiysk within the next few years.
After its transformation the movement of motor transport to the marine terminal will bypass heavily populated areas of the city. For this purpose the following facilities will be built.
• Highway Tsemdolina - Portovaya street of Novorossiysk. The length of this road will exceed 10 km, width -15 m, and projected traffic volume will amount to 69,500 cars per day by 2030. Its construction includes – 12 highway overcrossings, bridges, road interchanges and overpasses, four intersections with roads and railway lines, four bridges over the rivers.
• Highway overcrossing in the Magistralnaya street (which actually extends the previous facility), with length about 2 km. Projected traffic volume - 68,000 cars per day.
• Road interchange on the section Suhumiyskoe highway near JSC Novorossiysk Ship Repair Yard and the South-eastern cargo area of the port of Novorossiysk. There will be exits from the interchange to companies located in the Port’s territory.
According to the First Deputy CEO of PJSC NCSP Marat Shaydaev, "NCSP Group is interested in early implementation of the project and, from its side, will give every possible assistance to solve land issues in line with its competence.
"At the same time, we believe that working team which will be set up on the basis of today's meeting, should take into account NCSP Group development plans until 2020 and amend working documents of the project by pointing out the projected growth of cargo turnover and cargo line of our companies in Novorossiysk", M. Shaydaev added.
About NCSP Group
Novorossiysk Commercial Sea Port is the largest Russian port operator and the 3rd operator in Europe in terms of cargo turnover. NCSP shares are traded on Russia's MICEX exchange (NMTP) and on the London Stock Exchange in the form of GDRs (NCSP).
50.1% shares of PJSC "NCSP" belongs to Novoport Holding Ltd, beneficiaries owners of which are JSC “Transneft” and Ziyavudin Magomedov (Summa Group). NCSP Group consolidated cargo turnover in 2011 totaled 157 million tons. Consolidated revenue according to IFRS for the nine months of 2011 totaled $782 million and EBITDA of $404 million. NCSP Group combines the following stevedore companies: OJSC Novorossiysk Commercial Sea Port, Primorsk Trade Port Ltd (since 2011), PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Shipyard, PJSC Fleet of NCSP, OJSC NLE, OJSC IPP, and Baltic Stevedoring Company Ltd.
For more information please contact:
Media: M.Sidorov@nmtp.info; senko@ncsp-net.com;
Investement Community: MGrigoriev@nmtp.info