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News Europe

NCSP ties to $73m debt facility

31 Oct 2007

Novorossiysk Commercial Sea Port (NCSP) has signed debt facilities to the tune of $73m with Sberbank, the Savings Bank of the Russian Federation, to finance the development of new cargo handling facilities.

The financings are part of the overall investment programme of up to $700m being undertaken by NCSP to upgrade facilities and increase capacity at the port.

In related news, the port has completed a new bunkerage and fuel transfer complex, adding 600,000 tonnes of fuel oil and 48,000 tonnes of diesel fuel to the port’s capacity.