Transneft Wraps Up Port Deals

摘要

Russian pipeline monopoly Transneft has finalized deals allowing it to take over the country’s two largest ports - Novorossiysk on the Black Sea and Primorsk on the Baltic - in line with Moscow’s plans to win back control of key export outlets. Novorossiysk Commercial Sea Port (NCSP) revealed it had bought 100% of Primorsk Commercial Port (PCP), the company that operates Russia’s flagship Baltic port, from Omirico. The latter firm is owned by Transneft and investment holding Summa Capital, which is controlled by Dagestan billionaire Ziyavudin Magomedov. NCSP paid $2.153 billion, in part by using a $1.95 billion seven-year loan made by state Sberbank last year (NC Dec.16,p4).