Baltimor to invest $$1.5-2 billion into Lomomosov port complex (St. Petersburg) till 2020

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

28 Sep 2007

Baltimor plans to invest $$1.5-2 billion into Lomomosov port complex near St. Petersburg till 2020, Andrei Belonogov, Baltimor representative, told journalists at the ceremony dedicated to putting of Lomonosov berths into operation, RBC reports. The first phase of the complex is to be finished by 2015, while completion of the complex construction is scheduled for 2020. According to the plan, by 2015, the port will handle 250,000 motor cars per year. By 2021, annual capacity is to raise to 1 million TEU. The port's payback period is to make 10-15. According to Belonogov, the company will attract investments of Russian companies. "We have many proposals from foreign investors but we focus on Russian ones," Belonogov underlined. He also said new port will make it possible to redirect considerable part of cargo flow from Finland and Baltic states. According to Vadim Tyulpanov, Chairman of the Legislative Assembly of St. Petersburg, new port will not cause any transport problems in the city as it will have direct links with the encircling highway. Nikolai Asaul, Chairman of the city Committee on Transport-and-Transit Policy, thinks this project is a strategic one as its capacity is close to that of the port of St. Petersburg under maximal load. "It is an economically efficient project supported at the federal level," Asaul notes. Baltimor LLC was founded in 1992. The company specializes in transportation-and-warehousing services.