United Grain Company to build seed oils terminal in Novorossiysk by 2015-16
Novorossiysk Commercial Sea Port Group (the Group) has announces that Group companies PJSC “Novorossiysk Commercial Sea Port” and PJSC “Novorossiysk Grain Terminal” had signed a tripartite agreement of intent with OJSC United Grain Company to build a modern, high-tech seed oils storage and transhipment terminal at NCSP Group’s port facilities. The new terminal complex will have a capacity of up to 2 million tonnes per year (import/export).
NCSP Group CEO Rado Antolovic said: “NCSP Group is a leading stevedoring company, and we are always looking to increase our cargo handling volumes. We have territories at Novorossiysk Commercial Sea Port and Novorossiysk Grain Terminal that are suitable for construction of this new terminal and are prepared to make them available. For its part, United Grain Company is prepared to guarantee significant annual volumes of seed oils for the new terminal.”
Under the agreement, United Grain Company intends to export and import seed oils from and to Russia through the Novorossiysk Commercial Sea Port. Total investments in the project are currently planned at around RUB 1.5 billion. United Grain Company plans to start construction of the terminal in 2014, with commissioning scheduled for 2015-2016.
Novorossiysk Commercial Sea Port (NMTP Group) is Russia’s largest port operator in terms of cargo turnover. The Group comprises the following stevedoring companies: Novorossiysk Commercial Sea Port OJSC, Primorsk Commercial Port, Novorossiysk Grain Terminal OJSC, Novorossiysk Ship Repair Yard OJSC, NCSP Fleet OJSC, Novolesexport OJSC, IPP OJSC, Baltic Stevedore Company LLC and SFP CJSC. In 2012, the group’s throughput gained 1.2% to 158.9 mln tons.
OJSC United Grain Company is Russian agro-industrial company set up pursuant to the Decree of the RF President No 290 dated March 20, 2009 in order to develop the grain market infrastructure, implement Russia’s grain potential in the global market, activate trading and purchasing in national grain market. As a contribution to UGC authorized capital RF Government handed over share packages of 31 enterprises located in 18 constituent entities of the Russian Federation.
