Delo Group to buy blocking stake of grain terminal KSK in Novorossiysk from Cargill
It will not take longer than a month to consider the application
Delo Group will buy a 25 per cent plus one share of grain terminal KSK in the port of Novorossiysk from Cargill. Negotiations have been completed by today and the approved document have been submitted to the government commission on foreign investment, Commersant cites Sergey Shishkarev, Chairman of Delo Group BoD, as saying on the sidelines of the Eastern Economic Forum.
According to Sergey Shishkarev, it will not take longer than a month to consider the application.
According to IAA PortNews’ earlier report, Cargill acquired a minority stake in deep sea port terminal in Russian southern port of Novorossiysk. Cargill purchased a 25 per cent plus one share indirect interest from DeloPorts Limited in its subsidiary, OAO “Kombinat”Stroykomplekt” (“KSK”). In summer 2023, it was announced that Cargill left the market of Russia.
In late March, media reported that Cargill would also leave the Russian market. Together with Viterrra, these companies were among the top six largest exporters of Russian grain in the first half of the season of 2022/2023.
Delo Group (the Group) is a Russian transport and logistics holding company founded in 1993. Delo Group is a leader in sea transshipment and rail transportation of containers, as well as deep-sea grain transshipment in Russia. The Group’s companies ensure cargo delivery at all stages of the multimodal transport chain both in the Russian domestic and international traffic.
The Group has 9 marine terminals and 47 inland terminals. The total capacity of marine terminals is at 3.9 million TEU and 7 million tonnes of grain per year, while inland terminals have a capacity of 3.7 million TEU per year.
Delo Group operates a fleet of 40,000 container flatcars and containers with a total capacity of 230,000 TEU, as well as its own fleet of vessels.
KSK grain terminal (part of DeloPorts, the stevedoring holding of Delo Group) handled 4.1 million tonnes of grain in the first half of 2023, 1.7 times more than a year earlier. At the end of Q2 2023, 2 million tonnes of grain were handled, 1.6 times the result of the same period in 2022.
