Rostov Port Group partners with Donskoy Krepezh to acquire 80% of interest in construction company PROSPEKT
The Rostov Port Group together with is partner Donskoy Krepezh LLC in late April 2017 completed the deal for acquisition of 80% of shares in one of the largest construction companies PROSPEKT LLC, the Rostov Port press office said.
Volgodonsk, Russia based PROSPEKT (formerly CC "Start") has been in the construction market of Rostov-on-Don since the 1990s. The company performs in-design of minicipal buildings and appartment buildings, executes a full range of 'turn-key' construction and installation contracts.
During its activity in the market, the company commissioned more than 100,000 sqm.
The company is currently building a multi-storey residential complex "New City" in the Proletarsky District, Rostov-on-Don. The New City project includes two modern fifteen-storey apartment buildings with public facilities, underground parking lots, a closed territory with controlled entry and video surveillance.
Pavel Shvatsky, CEO, Rostov Port comments: "We are optimistic and believe that the economy will rise in 2017, and on the back of it the demand for residential and business real estate is expected to grow. Entering the construction business for us is an intended and reasonable move. In addition to the construction of the "New City" we have far-reaching plans.”
The Group plans redevelopment of the Rostov Port's First Cargo Area, in connection with its relocation from the Rostov city center.
“In the future we plan a house-building factory with a capacity of 100000sqm/y. Rostov Port Group has been steadily implementing its business diversification strategy. At the end of last year, we acquired interest in Don-Motors Group (Jaguar, Land Rover, Volvo, Motordom) and the growth in car sales has fully satisfied our expectations. In June of this year we inaugurate a new dealer centre HAVAL. We keep an eye on the market and are negotiating the purchase of a number of car trading firms both in Rostov-on-Don and elsewhere," Mr. Shvatsky said.
The Rostov Port Group's core business activities include: metal, scrap metal, fuel, coal, shipbuilding, transport and printing, security services, pharmaceuticals, restaurants, media, food and agriproducts. In 2018, the Group plans to build a grain terminal of capacity of 30,000 tonnes.
