4 Oct 2010 18:56

EuroChem acquires 25% in OJSC Baltic General Cargo

MOSCOW. Oct 4 (Interfax) - OJSC EuroChem acquired has 25% in OJSC Baltic General Cargo, based in the Leningrad Region, the chemical company said in a statement.

According to the SPARK database, OJSC Ust-Luga earlier owned 100% in Baltic General Cargo.

It was earlier reported that EuroChem plans in four years to invest 5 billion rubles in the construction of a bulk terminal at Ust-Luga. The terminal's capacity comes to 5 million tonnes. EuroChem has already reached an agreement with OJSC Russian Railways on the annual supply of mineral fertilizers to the port.

EuroChem is one of Russia's ten biggest agrichemicals firms by capacity. It includes Nevinnomyssky Azot , Novomoskovsky Azot, Phosphorit, Eurochem-BMU and Kovdorsky GOK in Russia and Lifosa in Lithuania.

Its owners are Andrei Melnichenko, the board chairman, and Dmitry Strezhnev, CEO.

OJSC Ust-Luga was founded in 1995. The company is helping to raise investment in the construction of the Ust-Luga port and the formation of companies for developing the port's terminals.