Ust-Luga Company BoD approves development strategy for 2013-2030
At the general meeting held on April 17, the Board of Directors of Ust-Luga Company OJSC approved the development strategy for 2013-2030 and the Company’s budget, the Company says.
The Board of Directors confirmed the strategic role of the project “Comprehensive development of Ust-Luga commercial seaport and the adjacent territory”. In 2012, it entered the list of priority investment project of the North West federal district of Russia.
Further implementation of the project will be supported by the resources of a special-purpose loan of Federal Center for Project Finance OJSC (VEB subsidiary). A corresponding agreement was signed by Ust-Luga Company, Vnesheconombank and Federal Center for Project Finance at the Petersburg International Economic Forum in 2012.
As of today. Ust-Luga company has completed engineering design of water supply and disposal systems as well as stormwater management system. Preliminary assessment of environmental impact has already been fulfilled. The project is currently at the stage of formalities related to land plots needed for prospecting, designing and construction of water supply and disposal networks.
The company has registered the leasehold of land plots with total area of 2,500 hectares allocated by the Leningrad region government for the project implementation.
The major construction works planned by the company for 2013 will include the creation of artificial land plots for further terminals in the Northern district of Ust-Luga commercial seaport with total quayside length of 1 km.
Ust-Luga Company OJSC coordinates the construction of commercial seaport Ust-Luga within the framework of the federal special-purpose programme “Development of Russia’s transport system” under private-public partnership principles.
