OREANDA-NEWS. February 6, 2009. In 2009, Ust-Luga Company OJSC will invest EUR 100 mln in completion of the second phase of the oil terminal, Sergei Vishnyakov, first deputy Director General of the terminal announced on Friday. Opening of the second phase is scheduled for the third quarter of the current year. For that purpose EBRD loan was received, Vishnyakov says. The credit line is opened for 9 years.

In May 2009, Ust-Luga Company plans to open a container terminal. By 2015 the company also plans to buy 20 ship-towing tugs from Pella Leningrad Shipbuilding Plant OJSC. Each 4.5-h.p. tug costs EUR 5.5 mln. On February 6, Pella shipyard launched the forth tugboat built for Ust-Luga Company OJSC.

Ust-Luga Company JSC was established in 1992 for implementation of a project on construction of Russia’s new commercial seaport in the Luga Bay of the Gulf of Finland. Ust-Luga Company JSC has several lines of activity related to creation of the largest in Russia multipurpose commercial seaport Ust-Luga and complex social-economic development of the territories adjacent to the port.
Ust-Luga port is situated practically at the border of the Russian Federation and the European Union. The deep water area of the port (16 m) together with the short ship channel (3.7 km) make Ust-Luga port the only Russian port on the Baltic Sea capable of admitting dry-cargo vessels with the deadweight of up to 75,000 tonnes and liquid cargo carriers with the deadweight of up to 120,000 tonnes. The second ship channel providing roundabout ship traffic will be built by 2010. By 2010 the cargo turnover of Ust-Luga port is expected to amount to 50 mln tonnes.