Mechel OAO MTL, one of the
leading Russian mining and metals companies, reports acquiring 55% (73.33% of
common shares) of Vanino Sea Trade Port OAO. The acquisition was made in line
with the company's strategy of developing its mining division in a bid to
expand its export capacities and reduce transport costs in line with planned
increases in coal mining volumes.
On December 29, 2012, the Government of the Russian Federation issued the
decree #2608-r with respect to the disposal of federally owned shares of
Vanino Sea Trade Port OAO (55% of share capital / 73.33% of common shares)
whereby the buyer and the cost of the share package were confirmed. Mechel OAO
logistics subsidiary Mecheltrans OOO was confirmed as the buyer. The sum of
the transaction totalled some 15.5 billion rubles. Earlier Mecheltrans OOO won
the auction for the port's controlling stake, which was held on December 7,
2012.
Port Vanino is located in naturally deep Vanina Bay in the Strait of Tartary
which links the Pacific Ocean's Sea of Okhotsk and Sea of Japan. Vanino is the
largest transport hub in the Khabarovsk Region and one of Russia's ten largest
ports. Its cargo turnover in 2012 totalled some 6 million tonnes. Vanino
handles cargo bound for Russia's North-East, Japan, South Korea, China,
Australia, the United States and other Pacific states. Navigation at the port
is open year round. Vanino is a universal port that fits ideally into the
logistics of Mechel's deliveries to Asia Pacific. Using its capacities will
enable the company to consolidate its position as one of the world's largest
producers of metallurgical coals and significantly expand its customer base.
Port Vanino can process vessels up to 45,000 tonnes deadweight. Its
infrastructure comprises 16 berths, storehouses and open storage space. Vanino
is equipped with 64 cranes of 6 to 100 tonne hoisting capacity. The port also
has a specialized container terminal. Open storage space totals 160,000 square
meters, with usable storehouse area of some 37,000 square meters. Besides
coal, the port can also handle ferrous and non-ferrous metals, ferroalloys,
timber, mineral fertilizers, alumina, containers and other cargo.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in