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24 May 2011
Global Ports to invest $162 mln in Petrolesport terminal development by 2013

ST. PETERSBURG. May 24 (Interfax) - The Global Ports group will be investing $162 million to develop handling capacity at the container terminal OJSC Petrolesport in St. Petersburg in 2011-2012, the group said in a statement.

Among the plans is expanding the storage area for refrigerated containers. At the beginning of this year, construction began on a second customs inspection zone for containers at Petrolesport and an area for storing dry containers. These facilities are slated to be put into operation this autumn.

The new handling facilities are being built on territory previously occupied by facilities for the additional processing of lumber and other wood cargo.

The development of Petrolesport is taking place in line with a long-term development project designed by Global Ports and Hamburg Port Consulting. The Petrolesport investment program is aimed at infrastructural development and increasing company competitiveness. The program involves increasing the terminal's container-handling capacity to 2.3 million TEU (twenty-foot equivalent units), which is currently 1 million TEU, and the terminal's roll-on roll-off capacity to 270,000 units (currently 210,000 units).

Global Ports was created by the N-Trans group with the consolidation of terminal assets on the Baltic Sea and in the Far East towards the further development of port business. The company includes the maritime container terminals Petrolesport and Moby Dick in St. Petersburg and Eastern Stevedore Company in Nakhodka, two terminals in Finland at the ports of Kotka and Helsinki, and the large independent Baltic-Sea terminal operator Vopak E.O.S. (a joint venture with the Netherlands' Koninkijke Vopak, which has three oil-product terminals at the Estonian port of Muuga). The company is also developing the Yanino logistics park in Leningrad region.