Ust-Luga will no longer languish

Alexander Voronkov of NCC told Port Strategy that construction works at the terminal yard are about to be resumed. Development at Ust-Luga was put on hold last year, as transport group FESCO refused to take part in further terminal investment, referring to “lack of investment capital”.

“However, this position was in conflict with the opinion of the other two shareholders of ULCT – First Quantum Group and Eurogate – both of which had confirmed their readiness to proceed with the project as planned,” said Mr Voronkov. An external investor has gained these shares with the approval of First Quantum for a transaction of around $900m.

The Ust-Luga terminal’s total capacity will amount to 3m teu, which implies a construction of six berths with total length of 1.7 km plus dredging alongside to take draught down to 16.5 m. Mr Voronkov added that the terminal now has a pair of rail mounted gantry cranes, four ship-to-shore cranes and 11 rubber-tyred gantries.