NCSP Invests in Capacity Expansion at Baltic Port
PJSC Novorossiysk Commercial Sea Port (LSE: NCSP, RTS & MICEX: NMTP) purchased two new Liebherr LHM400 harbor cranes for Baltic Stevedore Company (BSC), an NCSP subsidiary operating a container terminal at the Port of Baltiysk in Kaliningrad region. New cranes were supplied under a large-scale investment program aimed at tripling terminal’s capacity from 85,000 TEU to 300,000 TEU per annum.
Two Liebherr LHM400 harbor cranes worth more than 5 million euros have already been delivered to the port, which made BSC the best-equipped container terminal in Kaliningrad region.
NCSP consolidated 100% of BSC in February 2008. Since then a major investment plan worth US$ 69.2 million and a technical upgrade and capacity expansion program was developed and put into effect. New cranes are a part of this expansion project designed to bring port’s capacity to 300,000 TEU per annum.
Liebherr LHM400 is a universal mobile wheeled harbor crane. The crane has lifting capacity of 104 tonnes and a boom of 48 meters, enabling it to handle Panamax class container vessels. Both cranes are equipped with an automatic spreader for 20 and 40-foot containers. The cranes enable high loading and unloading speeds of 20-25 operations per hour. The container spreader can be replaced with other mechanisms if necessary to process all kinds of cargo.
About NSCP
According to the Association of Sea Ports, OJSC Novorossiysk Commercial Sea Port is the largest Russian port operator in terms of cargo turnover. NCSP consolidated cargo turnover in 2007 totaled 79.4 million tonnes. OJSC NCSP is listed on the London Stock Exchange and Russia's RTS and MICEX. In 2007 NCSP’s earnings for 2007 totaled US$ 483.4 million, EBITDA -- US$ 227.9 million, and net profit -- US$ 93.7 million (according to consolidated financial statements under IFRS).
NCSP group includes the six stevedoring companies: OJSC NSCP, OJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Shipyard, OJSC NCSP Fleet, OJSC Novoroslesexport, OJSC IPP, and Baltic Stevedoring Company Ltd.
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