DP world buys 49 stake in the Nutep terminal in Russia´s port of Novorossiysk
DP World has purchased a 49% stake in NUTEP terminal in Port of Novorossiysk, Russia, for a total consideration of US$330 million.
According to sources, the deal is waiting on approval from a government commission on foreign investment.
This transaction comes as a result of the increase in DP World’s revenue and profit. The company's profits increased by more than $200 million in 2015.
In late March, Alex Papusha, NUTEP’s director of operations, announced that the container terminal in the Novorossiysk seaport will double its capacity in the coming years through the building of a new modern berth for mega-ships with capacities of 10,000 twenty-foot-equivalent units.
The total project investment is estimated at RUB3 billion (US$45 million). The facilities are scheduled to be operational by 2018.
Traffic at the NUTEP terminal fell in 2015 to 202,600 TEUs (decrease of 24%) as traffic in the fourth quarter fell 22% to 50,650 TEUs, which was similar to the volume recorded in the third quarter.
Country news
-
-
April 12, 2016
Russia sells 38 % stake in Murmansk airport
Rivoli, a company associated with Novaport, has acquired a 38% stake in Murmansk airport from the government of Russia. Read more -
March 08, 2016
BRICS new bank to finance solar projects
The New Development Bank established by the BRICS states, Brazil, Russia, India, China and South Africa, plans to lend about US$2 billion to finance energy solar projects in India. Read more -
February 10, 2016
Pizzarotti wins a contract for the hospital complex in Saint Petersburg
Italian construction company Pizzarotti will build a modern 504-bed hospital complex in the city of Saint Petersburg, Russia. Read more -
January 22, 2016
DP world and Russia´s RDIF sign investment JV
Global trade enabler DP World and the Russian Direct Investment Fund (RDIF) have announced the launch of a new joint venture company targeting ports, transportation and logistics infrastructure in Russia. . Read more -
January 15, 2016
Avtodor to tender road PPP in late January
The revised version of tender documents was released on the website of State Company “Avtodor” on December 24, 2015. Avtodor plans to announce the start of the tender process on 26 January 2016. Read more
