BTA Bank completed transaction on selling seaport Vitino
New owner of Nord Star LLC, operator of Vitino, is Vladimir Golubev
BTA Bank controlled by Kenes Rakishev has sold 90% of Nord Star LLC, operator of non-freezing seaport Vitino, to a strategic investor, says press center of Kenes Rakishev.
New owner of Vitino seaport is Vladimir Golubev, shareholder of Adamant Holding, one of the majors in Russia’s market of commercial real estate.
According to the Uniform State Register of Legal Entities, Vladimir Golubev owns 100% of Nord Star LLC (the initiator of “Vitino: seaport and oil tank farm” project). The amendments were introduced into the document on 16 December 2021. BTA Bank confirms the deal while not revealing the deal value or the buyer’s name. Earlier, 90% of Nord Star was owned by BTA Bank and 10% - by Vitaly Kupriyanov.
Kenes Rakishev says BTA has handed over the banking license and has focused on management of assets.
“As for port Vitino, we have developed a roadmap for relaunching the port, secured RF Government’s privileges by making it a resident of the Arctic Zone of the Russian Federation as well as the support of the Murmansk Region Government in terms of infrastructure issues, agreed on the port’s future with the potential cargo shippers looking mostly in handling of oil and gas products. The roadmap will be further implemented by a professional who has taken over the port control”, he said.
As an Arctic Zone resident Nord Star can count on a reduced income tax for a decade starting from the beginning of the profit-making period (up to 5% for the first 5 years and up to 10% for the next 5 years), 0% property tax for 5 years, 0% land value tax for 3 years and partly covered payment of insurance premium.
Initially, Vitino was used for exports of crude oil and oil products delivered by railway. The port has a railway connection with Murmansk and Saint-Petersburg.
According to BTA, the new owner is highly experienced in management of large construction and infrastructure projects.
Port Vitino is located on the western shore of the Kandalaksha Bay (White Sea) in the Murmansk Region. The key target of the investment project is to recover the flow of export oil products along the Northern Sea Route via the port terminal Vitino in the amount of at least 4 million tonnes per year. The project foresees the retrofitting of the port and the Belomorskaya tank farm as well as generation of up to 250 new jobs. The terminal will be the backbone enterprise of Beloye Morye and it will also provide the settlement’s social infrastructure with energy.
The following products are planned for handling: AI-92 gasoline, АI-95 gasoline, diesel fuel and naphta.
Maximum deadweight of ships – 70,000-80,000 tonnes. The fairway allows for year-round welcoming of ships with a draft of up to 13 meters.
Related links:
Six large investment projects to be implemented in Russia’s Arctic Zone>>>>
Nord Star officially listed as first resident of RF Arctic Zone >>>>
