3rd Sep 2008 09:06
Press-release
Novorossiysk Grain Terminal Reaches Full Capacity
September 3, 2008
PJSC Novorossiysk Commercial Sea Port (LSE: NCSP, RTS & MICEX: NMTP) announced today that its new specialized grain terminal has reached full capacity in due time, in full accordance with NCSP's investment plan. In August 2008 new terminal has handled 483,000 tons of export grain (In total NCSP Group handled 1,032,000 tonnes of grain in August 2008, which is 91% more than same period last year).
The specialized grain terminal is operated by OJSC Novorossiysk Grain Terminal (NGT), a 100% subsidiary of NSCP. The terminal was constructed under a comprehensive long-term investment program aimed at expanding port's handling capacity.
«The new terminal has reached full capacity just in time to accept the grain of this year's record-breaking harvest, -- said Igor Vilinov, CEO of NCSP. - We have reached expected transshipment volumes, as well as full utilization of the terminal, and met all the deadlines. NCSP was right to project increased demand for grain handling, and implemented a technology that proved to be efficient».
The newly launched terminal is equipped with best available machinery. It is the fastest and the largest grain terminal in Russia. Its maximum throughput capacity may reach up to 550,000 tonnes of grain per month. Terminal's elevators hold up to 120,000 tonnes of grain at a time, while its berth accepts vessels of up to 70,000 tonnes deadweight. Investments in the terminal totaled US$ 82.6 mln.
NSCP Group grain handling, '000 tonnes
|
|
August 2007 |
August 2008 |
change |
|
PJSC NCSP |
538 |
549 |
+ 2 % |
|
OJSC NGT |
0 |
483 |
+ 100 % |
|
Total |
538 |
1,032 |
+ 91 % |
About NSCP
According to the Association of Sea Ports, OJSC Novorossiysk Commercial Sea Port is the largest Russian port operator in terms of cargo turnover. NCSP consolidated cargo turnover in 2007 totaled 79.4 million tonnes. OJSC NCSP is listed on the London Stock Exchange and Russia's RTS and MICEX. In 2007 NCSP's earnings for 2007 totaled US$ 483.4 million, EBITDA -- US$ 227.9 million, and net profit -- US$ 93.7 million (according to consolidated financial statements under IFRS).
NCSP group includes the six stevedoring companies: OJSC NSCP, OJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Shipyard, OJSC NCSP Fleet, OJSC Novoroslesexport, OJSC IPP, and Baltic Stevedoring Company Ltd.
For more information please contact:
Tel.: + 7 (495) 783 5434[email protected]
Tel.: +7 (495) 784 54444[email protected]
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