Metalloinvest, a leading manufacturer and supplier of iron ore products and hot briquetted iron (HBI) on the world market, one of the regional producers of high-quality steel, has signed a binding agreement with Ultramar on construction in the port of Ust-Luga ( Leningrad Region), a specialized terminal for transshipment of iron ore pellets and hot briquetted iron (HBI).
The signing took place at the St. Petersburg International Economic Forum in the presence of Andrey Varichev, CEO of Metalloinvest Management Company. The document was signed by Vakhtang Kocharov, Executive Director of Metalloinvest Trading AG, and Andrey Bonch-Bruevich, General Director of Ultramar LLC.
The volume of transshipment will be 2.5 million tons per year. The agreement was concluded for a five-year term under the take-or-pay scheme.
The construction of the terminal will be financed by Ultramar at the expense of its own and borrowed funds.
The construction of the terminal will be completed in mid-2020. Railroad tracks, storage areas and a berth for receiving Panamax vessels will be built. The terminal will carry out mechanized cleaning of pellets and gentle handling of HBI.
“Metalloinvest, as a leading producer of high-quality iron ore raw materials - HBI and pellets, is striving to meet the growing global demand for these products,” said Vakhtang Kocharov. The construction of a new terminal in Russia on the Baltic Sea will enhance the export potential of the Company.
