KSK Grain Terminal raised RUB 1.1 billion to complete an investment project

KSK Grain Terminal (KSK, part of DeloPorts, a stevedore asset of the largest transport and logistics holding in Russia, Delo Group) and Alfa-Bank on January 27, 2021 signed an agreement to attract KSK 1.1 billion rubles on preferential terms for the reconstruction of its transshipment facilities, Delo Group says in a press release.

The implementation of the investment project will allow KSK to increase the terminal’s capacity to 7 million tons of grain per year. At present, the construction of a deep-water grain berth No 40A has been completed in Novorossiysk. Commissioning is scheduled for July 2021.

The funds are provided as part of the interest rate subsidy program approved by Decree of the Government of the Russian Federation of April 26, 2019 No. 512 “On the provision of subsidies from the federal budget to Russian credit institutions, international financial institutions and the state development corporation “VEB.RF” to compensate for lost income on loans issued to agricultural producers that have entered into agreements on increasing competitiveness … “.

The size of the subsidy to Alfa-Bank reaches 90% of the key rate of the Central Bank of Russia.

Igor Yakovenko, Chief Executive Officer of DeloPorts, commenting on the agreement with Alfa-Bank, said: “Feeling the support of the state in the implementation of investment projects that are so important not only for us, but for the entire Russian economic system, we understand that we are part of it, and we do the right thing, we get additional confidence in the timely successful completion of the project. We thank our partners from Alfa-Bank and look forward to further mutually beneficial cooperation with them”.

“Alfa-Bank has been an active participant in Government programs to support Russian manufacturers for many years. We always strive to use every opportunity to support our clients’ target projects. We are pleased to contribute to the development of the port infrastructure of DeloPorts for the transshipment of domestic agricultural products” – said Denis Kutasov, Director of Corporate Clients at Alfa-Bank.

DeloPorts is a holding company that owns and operates stevedore assets of Delo Group in the port of Novorossiysk. DeloPorts consolidates NUTEP Container Terminal, KSK Grain Terminal and Delo Service Company.

Delo Group is the largest transport and logistics holding in Russia, managing sea container terminals in the Azov-Black Sea, Baltic and Far Eastern basins, a network of railway container terminals, a fleet of containers and fitting platforms. The parent company of the Group is LLC MC Delo, 70% owned by the founder of the Group, Sergey Shishkarev, and 30% is owned by State Atomic Energy Corporation Rosatom.

The Group’s stevedoring business includes DeloPorts holding and Global Ports, a leading container terminal operator. The transport and logistics business of the Group is made up of the multimodal transport operator Ruscon and the intermodal container operator TransContainer that owns and operates the largest fleet of containers and flatcars over the entire 1520 standard railway network.

Port News

Tags: grain exports, DeloPorts, KSK