OREANDA-NEWS. June 25, 2010. At least 5 or 6 new companies would be willing to invest this year in the port of Ust-Luga (Leningrad region) CEO of JSC Ust-Luga Company said. The Ust-Luga Company has been in talks with potential investors.

As of now, Mr. Shirokov said, there has been a cooperation agreement with United Grain Company that intends to build a grain terminal at the port. More to come, Mr. Shirokov says, to invest in capacities for handling fertilizer.

Chairman of the Ust-Luga Company Board Valery Izrailit expects the port’s pool of investors to be formed this year. Then, an ambitious project of logistics infrastructure and the construction of the port city should be developed. However, the Company is not going to dilute its equity, establishing for investors subsidiary companies.

JSC "Ust-Luga Company" was established in 1992 for the construction of a new sea port in the Luga Bay of the Gulf of Finland.

JSC Ust-Luga Company was established in 1992 for the construction of a new seaport in the Luga Bay of the Gulf of Finland.
Port of Ust-Luga is located on Russia’s border with the EU. A 3.7-km approach canal and 16-m deep harborage make the port of Ust-Luga the major Russian port on the Baltic Sea capable of accommodating ships with a capacity of over 150.000dwt. The port facilities allow handling 75.000-dwt bulkers and 120.000-dwt tankers. In 2009 the Ust Luga port handled 10.3 million tons of cargoes and 1.031 ships (517 inbound and 514 outbound).