ROSTOV BUILDS SECOND BOX TERMINAL

Further expansion is required in order to meet future demand and the aim, in respect of the Kotka project, is to add container terminal equipment equivalent to a capacity of up to 50,000TEUs per year. The capacity of the Litke Bay Terminal is to be increased to 150,000TEUs (Phase II) and subsequently to 230,000TEUs (Phase III).The total investment of €71m comprises a €45m senior secured hybrid financing and €26m of equity provided by Container Finance Ltd Oy and Forth Ports Plc. The hybrid, a combination of project and corporate financing, consists of a ?41m Term Loan and a €4m stand-by loan facility.

The Russian port of Rostov is to build a second container terminal, which will be a joint-venture between the port authority and the AzovDon shipping company. Total investment of $300m will be made over the next 10 years, while annual capacity will be 200,000 teu.