Gazprombank and STLK announced financial closure of concession project on Lavna terminal construction
State Transport Leasing Company (STLC) says a financial closure of the concession project on creation and operation of Murmansk seaport infrastructure facilities has been signed today, 7 June 2019, in the framework of Saint-Petersburg International Economic Forum (SPIEF 2019).
The document has been signed in the presence of Maksim Akimov, Deputy Prime Minister of the Russian Federation’ Innokenty Alafinov, First Deputy Minister of Transport of the Russian Federation, and Andrey Chibis, Acting Governor of the Murmansk Region, by Andrey Akimov, Deputy Chairman of Gazprombank Board, and Yury Tsvetkov, Deputy Minister of Transport – head of Rosmorrechflot (Federal Marine and River Transport Agency).
Lavna project is being implemented in the framework of Murmansk Transport Hub project. It is included in the comprehensive plan for modernization and expansion of main transport infrastructure, Transport Strategy of the Russian Federation and Federal Targeted Programme “Development of Russia’s Transport System”. By 2022, the project is to achieve its design capacity of 18 million tonnes per year.
“Coal transshipment facility “Lavna” is an example of efficient cooperation of the business and the state aimed at solving strategic tasks for the country development. It is a milestone project from both geopolitical and economic points of view. I am sure that it implementation will mean yet another step towards enhancement of the Russian Federation’s competitiveness in the Arctic region”, comments Deputy Prime Minister Maksim Akimov.
“The new port and the coal terminal in the Kola Bay will let reduce the cost of transshipment for Russian exporters. We are glad to take part in this ambitious project and we are sure that our extensive experience in infrastructure financing and joint work with our partners will let ensure its success”, said Aleksey Belous, Deputy Chairman of Gazprombank Board.
“We are proud about the financial closure of Russia’s first port infrastructure concession today. Through joint efforts of the Government, the Ministry of Transport and the regional authorities we have succeeded in launching such a large-scale project in the framework of Murmansk Transport Hub development. It is important for us that our strategic partner, large state bank Gazprombank is an anchor creditor under the project. Financing limits comply with the budget of the project which is to exceed RUB 30 billion”, commented Sergey Khramagin, General Director of STLC.
The State Transport Leasing Company (GTLK) is Russia’s largest player in the lease market. It leases out aircraft, vessels, rail transport, road vehicles and special equipment to domestic transport enterprises and invests in the development of Russia's transport infrastructure. The company's sole shareholder is the Russian Federation represented by the Ministry of Transport. GTLK holds double-B ratings from the world’s three leading international rating agencies and an A+(RU) national rating from ACRA. As of 31 December 2018, GTLK assets exceeded RUB 521 billion.
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