New Seaport to Be Built in Lomonosov, Leningrad Region

According to Yuri Tkatch, the General Director of the ZAO Yantar company, in 2002, the construction of a new seaport will begin in the town of Lomonosov, the Leningrad Region. Mr. Tkatch said, 'Yesterday, in Moscow, a contract was signed between our company and the Ministry of Transportation of Russia naming our Yantar contractor in the venture. We are prepared to soon sign a contract to replace a preliminary agreement with a foreign investor'. Mr. Tkatch refused to name the prospective investor saying only that the German Rogge Marine Consulting G.M.B.H. company had been appointed consultant for the project. The exact timetable depends on the outcome of negotiations with the investor, pending soon. 'Yet, Mr. Tkatch concluded, I am sure the project will be launched some time this year. The first phase of the construction should be completed within 1.5 or 2 years after it begins'. The idea of the construction of a seaport in Lomonosov dates back to early 1990s. In 1994, Anatoly Sobchak, than the Mayor of St. Petersburg, approved the choice of the construction site. Yantar was named contractor and commissioned a feasibility study and an estimate for the project from the LenmorNIIproject designing institute paying out of its own funds.

According to the completed estimate, the total cost of the construction should amount to about $211 million, no funding from state treasury or the marine administration envisioned. After the first $132 million phase is completed, the annual throughput of the port should reach 2 million tonnes of cargoes. The project includes the construction of container, refrigeration, and metal transhipping terminals. Eventually, the annual throughput of the port should reach 6 million tonnes. During the initial stage, most money will pay for bottom dredging, the washing in of additional territory of the port and the waterworks. The bottom must be dredged to the depth of between 8 and 12.5 meters, if the port is to be able to serve vessels displacing up to 50,000 tonnes. The sea canal is supposed to be 3 km long.

According to Mr. Tkatch, the greatest advantages of the new port will be its close proximity to St. Petersburg, direct access to the October railroad and the highway connecting St. Petersburg with Moscow and also its proximity to the exit from the Gulf of Finland, which will cut the cost of ice breaking in winter.

The ZAO Yantar company was founded in July 2001 to become the contractor of the Lomonosov seaport project. Its statutory capital amounts to $1 million. The controlling portion of its stock is owned by a group of St. Petersburg companies related to the Krosna holding group primarily engaged in satellite communications.