Ust-Luga Co to find investor for building 300 mln ruble refinery
ST. PETERSBURG. Sept 13 (Interfax) - OJSC Ust-Luga Company intends next year to find an investor for the building a 300-billion-ruble oil refinery in the industrial zone at the port of Ust-Luga and plans to secure an agreement with a major company, the head of the project for creating the zone, Vladimir Kurka, has told the press.
"We are hoping that we'll see the first 'anchor' in 2013," Kurka said. The overall plan is to find at least two anchor investors that will bring their own "satellites," he said. Kurka did not say what investors he might have in mind, but noted they will be involved in the deep processing of hydrocarbons.
There could be upwards of 600 billion rubles put into setting up enterprises in the industrial zone, including investment in the creation of engineering and transport infrastructure (68.7 billion rubles).
The general director of LLC Ust-Luga Multimodal Complex, Mikhail Yerofeyev, said that part of the plan is to start building a cargo airfield on territory adjoining the port in 2016. The cost of building a 3,760-meter long and 60-meter wide landing strip could run to 7-8 billion rubles and take two years to build, he said.
This past June, Vnesheconombank, Ust-Luga Company, and OJSC Federal Center for Project Financing signed a cooperation agreement for carrying out a project for the comprehensive development of the Ust-Luga commercial port and adjoining territory.
This program involves the creation in the Kingisepp district of Leningrad Region of several interconnected clusters. Project plans call for setting up an industrial zone, whose enterprises would specialize in the deep processing of hydrocarbons, the building of a new city, the development of transport and logistics, and creating a zone of recreation and agri-industrial clusters.
The port of Ust-Luga is developing on the Luga Bay of the Gulf of Finland. Ust-Luga Company is the coordinator for attracting investment for the building and creation of organizations for building terminals.