OREANDA-NEWS. November 14, 2007. In the third quarter of 2007, net profit of Company Ust-Luga OJSC under Russian Accounting Standard grew 5.26 times, year-on-year, to RUR 4.044 million. In the reported period the company’s proceeds fell 3.85 times to RUR 133.449 million.

Ust-Luga Company was founded in 1992. It is the customer-developer of the Commercial Seaport of Ust-Luga. Implementation of the project will enable the company to build the deepest port of Russia at the Baltic Sea capable of handling dry cargo carriers of up to 75,000 dwt. The largest shareholders of the company are Novyje resursy CJSC (20.04%), National Capital CJSC (16.48%), Leningrad Region (25% of shares + 1 share). In 2006, net profit of Ust-Luga OJSC under Russian Accounting Standard totaled 22.796 million rubles.