En+ suspends cooperation with Ust-Luga Company - Rusal
En+ (construction customer of Ust-Luga terminal for Rusal cargoes) has suspended cooperation with Ust-Luga Company OJSC due to the necessity of additional investment into infrastructure. As Rusal commented to PortNews IAA, initial project works and engineering survey was carried out during the cooperation with Ust-Luga Company on construction of the terminal for transshipment of Rusal cargoes. Initial expected value of the project has increased due to additional investments required for infrastructure development.
“In this context our construction customer Еn+ decided to suspend further cooperation with the port. We are currently considering our further steps,” Rusal commented.
We remind that in summer 2008 Rusal and Ust-Luga OJSC signed a memorandum on implementation of a project on construction and launch of a transshipment complex comprising two terminals for transportation of aluminum and alumina via Ust-Luga. Rusal investment into the project could exceed $300 mln.
The terminal’s supposed capacity – 2.5 mln tons of alumina and 2 mln tons of aluminum per year with further expansion to 4 mln tons and 3 mln tons respectively. This project was considered as the first step of Rusal in implementation of a program on creation of its own specialized port facilities ensuring efficient transshipment of raw materials and products in compliance with the company’s plans on production expansion.
En+ eyes new ways for construction of transshipment facilities in northwest Russia>>>>
