05 March 2007
Petrolesport has joined the Severstaltrans Group
The Severstaltrans Group of Companies has finalized a deal to acquire OJSC Petrolesport (PLP).
"We regard Petrolesport to be a company with considerable potential for growth, primarily in the area of container shipping," announced Nikita Mishin, a member of the Board of Directors of Severstaltrans Group. "We never left the container business, and our exit from the partnership with First Quantum was accomplished by dividing up the assets. PLP was acquired in accordance with plans to expand Severstaltrans Group of Companies container business."
OJSC Petrolesport has area and technical capabilities that can accommodate a substantial growth of capacities both in the transshipment of containers and in the handling of other types of freight, primarily, refrigerated cargoes. At the moment, Severstaltrans Group of Companies plans to implement an investment program geared to increasing the volume of container handling to 2 million TEU per year. "We are planning measures to expand terminal infrastructure, and in that context it is extremely important to us to provide production capacities for terminal growth while simultaneously reducing the load on city infrastructure," said Eduard Chovushyan, the new director general of OJSC Petrolesport. He noted that the company is considering various options for funding the investment program, and one tool for that could be an additional issue of shares of the OJSC.
In Chovushyan's view, the container business will remain one of the Russian transport market's vigorously growing segments. At present, Severstaltrans and partners are implementing an investment program to develop specialized container terminals in the Far East, in the ports of Vostochnyy and Vladivostok.
"We regard Petrolesport to be a company with considerable potential for growth, primarily in the area of container shipping," announced Nikita Mishin, a member of the Board of Directors of Severstaltrans Group. "We never left the container business, and our exit from the partnership with First Quantum was accomplished by dividing up the assets. PLP was acquired in accordance with plans to expand Severstaltrans Group of Companies container business."
OJSC Petrolesport has area and technical capabilities that can accommodate a substantial growth of capacities both in the transshipment of containers and in the handling of other types of freight, primarily, refrigerated cargoes. At the moment, Severstaltrans Group of Companies plans to implement an investment program geared to increasing the volume of container handling to 2 million TEU per year. "We are planning measures to expand terminal infrastructure, and in that context it is extremely important to us to provide production capacities for terminal growth while simultaneously reducing the load on city infrastructure," said Eduard Chovushyan, the new director general of OJSC Petrolesport. He noted that the company is considering various options for funding the investment program, and one tool for that could be an additional issue of shares of the OJSC.
In Chovushyan's view, the container business will remain one of the Russian transport market's vigorously growing segments. At present, Severstaltrans and partners are implementing an investment program to develop specialized container terminals in the Far East, in the ports of Vostochnyy and Vladivostok.