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  • 2022 January 14 15:33

    Port Vitino investor to announce design competition in Q1’2022

    Photo by IAA PortNews
    The first phase of works is to be completed by 2023

    Nord Star LLC, new operator of seaport Vitino, which replaced the previous owners in late 2021, is going to announce a competition for development of design and detailed documentation for the port reconstruction and retrofit in the first quarter of the current year, Dmitry Safonov, General Director of the company told IAA PortNews.

    According to the source, the first phase of works is to be completed by 2023 with the port capacity of 4.5 million tonnes. Oil products will account for the bulk of the cargo flow. With the completion of Phase 2, the terminal’s capacity will be increased to 12 million tonnes. The time of Phase 2 completion and the scope of investments will be determined in the course of design and survey works.

    Dmitry Safonov says handling of other cargoes including LNG in tank containers will be considered as well.
    According to earlier statements, BTA Bank controlled by Kenes Rakishev has sold 90% of Nord Star LLC, operator of non-freezing seaport Vitino, to a strategic investor, says press center of Kenes Rakishev.

    New owner of Vitino seaport is Vladimir Golubev, shareholder of Adamant Holding, one of the majors in Russia’s market of commercial real estate.

    According to the Uniform State Register of Legal Entities, Vladimir Golubev owns 100% of Nord Star LLC (the initiator of “Vitino: seaport and oil tank farm” project). The amendments were introduced into the document on 16 December 2021.

    Port Vitino is located on the western shore of the Kandalaksha Bay (White Sea) in the Murmansk Region. The key target of the investment project is to recover the flow of export oil products along the Northern Sea Route via the port terminal Vitino in the amount of at least 4 million tonnes per year. The project foresees the retrofitting of the port and the Belomorskaya tank farm as well as generation of up to 250 new jobs. The terminal will be the backbone enterprise of Beloye Morye and it will also provide the settlement’s social infrastructure with energy.

    Related links:

    BTA Bank completed transaction on selling seaport Vitino >>>>

    Six large investment projects to be implemented in Russia’s Arctic Zone>>>>

    Nord Star officially listed as first resident of RF Arctic Zone >>>>

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