Global Ports revises 2014 CAPEX plan
Global Ports Investments PLC (“Global Ports” or the “Company”, together with its subsidiaries and joint ventures, the “Group” or the “Global Ports Group”; LSE ticker: GLPR) today announces that at a meeting on 14 March 2014, the Board of Directors of Global Ports updated the Group’s capital expenditure (CAPEX) program for 2014.
Driven by the recent acquisition of NCC Group Limited (“NCC Group”) and rapid growth of the Group’s VSC container terminal in the Russian Far East, the Group has revised its 2014 CAPEX plan. The Group’s consolidated CAPEX for 2014 is expected to amount approximately USD 66 million, compared to USD 79 million spent by Global Ports and NCC Group on an illustrative combined basis in 2013. Over 95% of the CAPEX is expected to be spent in the Russian Ports segment.