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on March 17, 2011

Sodrugestvo Group invests in construction of new port complex

$430 million project to be completed in 2013

Sodrugestvo Group has begun construction on a new port complex in Kaliningrad, Russia.

The $430 million project, scheduled for completion in 2013, will include a new deep-sea port terminal and soybean crushing plant. The Sodrugestvo Group has already invested more than $600 million in port infrastructure and processing facilities in Kaliningrad since 2001. “Sodrugestvo’s continuing investment in our Kaliningrad facilities underscores our commitment to the Russian market which is critically important to our Group’s health and future growth,” said chairman Alexander V. Lutsenko. “This nearly half billion dollar expenditure will provide us with new production and storage facilities and new shipping berths that will allow us to increase our presence in Northern, Central and Eastern Europe.”

The specialized port complex has been specially designed to support the import and export of dry bulk agricultural commodities and vegetal oils. It will contain three berths that can receive up to 50,000 metric tons ships, a new rail terminal with the capacity to handle 5,000,000 metric tons annually and additional storage capacity to house 160,000 metric tons of grains, 184,000 metric tons of dry bulk commodities and 30,000 metric tons of vegetal oils.

The new plant will add 5,000 metric tons of daily processing capacity to the existing 3,300-metric-ton daily capacity at the existing Kaliningrad facility.

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