Alexander Goloviznin, Deputy General Director of the Company, has told reporters that the global economic crisis hindered implementation of these plans last year, although all design documents were ready.

He is reported to say that Ust-Luga is the only place in the Russian Baltic area where a large logistical center can be built right in the port. The company looks hopefully at the new facility as a good chance to increase vehicle carrying. As many as 360 k cars per year are planned for carrying in the year of 2013, while the current year plan is 58 k.

The terminal is currently transshipping Toyota, Lexus and Hyundai cars. A. Goloviznin said that this list is to be extended this year with the cars of two more brands. He did not mention specific brands, noting that their producers are from Southeast Asia. Furthermore, port development plans include construction of Ust-Luga town for 30-35 k residents. Its construction is intended to start in fall 2010. Leningrad Region provides significant benefits for this project.

ОАО Ust-Luga Company, the coordinator of raising investments into port construction project, commissioned the first stage of South-2 Marine Transshipment Terminal of the cost of RUR 1.2 bn in summer 2008. Throughput capacity of the second stage scheduled for commissioning in August 2010 will be 100 k cars/year. Besides cars, throughput of bulk and general cargoes is planned.

Total planned capacity of South-2 Marine Transshipment Terminal to be achieved in 2012 is 4.6 MM tons of cargo per year; planned investments amount to RUR 8.4bn, including over RUR 2bn planned to be raised from Russian Federation Investment Fund.

Ust-Luga Port is under construction in Luzhskaya Bay of the Gulf of Finland. Major shareholders of OAO Ust-Luga Company are the Government of Leningrad Region (25% + 1 share), ZAO Novye Resursy (20.04%), Investport Holding Foundation (14.72%), ZAO UK RVM Capital (16.48%), ООО Absolute Group of Companies (15.24%) and ОАО Russian Railways.

Source: Loglink.ru