Novorossiysk Commercial Sea Port signs $73 million debt facilities
Novorossiysk, 26th September 2007
PJSC Novorossiysk Commercial Sea Port (“NCSP”), the largest commercial sea port operator in Russia in terms of volume of cargo operations, is pleased to announce that it has signed debt facilities for a total of a $73 million with Sberbank, the Savings Bank of the Russian Federation, to finance the development of new cargo handling facilities.
NCSP’s subsidiaries OJSC Novorossiysk Grain Terminal, OJSC Novoroslesexport and OJSC Importpischeprom each signed agreements at a special signing ceremony at the International Investment Forum “Sochi 2007”, which was held in Sochi on the Black Sea coast.
The financings are part of the overall investment programme of up to $700 million being undertaken by NCSP to upgrade facilities and increase capacity at the port.
Information about the company:
NCSP is the largest commercial sea port operator in Russia in terms of volume of cargo operations according to Global Insight/ISL. Its operations are primarily at the Port of Novorossiysk, Russia’s largest sea port in terms of cargo turnover volume according to the Association of Russian Sea Ports, and Europe's fifth largest commercial sea port by cargo volume in 2005, according to Global Insight/ISL. NCSP handles approximately 20% by volume of cargoes shipped through Russian sea ports according to the Association of Russian Sea Ports.
NCSP is a key Southern gateway for the import and export of a wide range of cargoes to and from the fast growing Russian economy (including oil, oil products, timber, grain, fertilizers, ferrous metals, containers, automobiles and general cargo) and is one of the major access points into the Krasnodar region. NCSP recently consolidated its shareholdings in the majority of other operators and stevedores in the Port of Novorossiysk.
In addition to its stevedore operations at the Port of Novorossiysk, NCSP operates a fleet at Novorossiysk for bunkerage and towing, maintains the largest ship repair yard in the Southern basin and operates a stevedoring company in Baltiysk in Kaliningrad.
For further information please contact:
PJSC “NCSP”
Elena Makasheva
PR-manager
Tel. +7(495) 783-54-41
makasheva@nmtp.info
College Hill Associates, London
Simon Whitehead/Tony Friend
Tel. +44(0)20 7457 2020
Simon.Whitehead@collegehill.com
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