Moscow, 03 November, 2015 – A consortium comprising the Russian Direct Investment Fund (RDIF) and leading international investors has announced the completion of a deal to invest in a terminal in the commercial port of Ust-Luga (Russia) after obtaining all regulatory approvals. The terminal, owned by petrochemical company SIBUR, transships liquefied petroleum gas (LPG) and light oil products.
The consortium has acquired 100% of the terminal, one of the most advanced port infrastructure facilities on the Baltic Sea.
According to the agreement, SIBUR will be entitled to use the terminal’s capacity for the transshipment of its LPG and will oversee the terminal’s operations. The deal structure includes long-term agreements with a number of light oil transshipment companies, ensuring that the new terminal is utilized at its maximum capacity.
The consortium plans to continue investing in the terminal’s development, with a project already underway to expand the rail infrastructure and increase its transshipment capacity. Under the current plan, the project involves increasing the capacity for handling LPG from 1.5 to 2.4 million tons per year, and increase the transshipment of light oil products from 2.5 to 2.8 million tons per year.
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