Global Ports looking to greenfields
Friday, 20 April 2012 | 16:30
Global Ports Group Investments Plc - a container and oil terminal operator servicing Russia’s cargo flows - plans to expand its portfolio and operations by persuing greenfield projects.
The company aims to take a two prong approach to this - expansion of the existing terminal portfolio through greenfield development and actively seeking, evaluating and investing in new greenfield opportunities.
Global Ports remains interested in the Black Sea area - the subject of a government proposal for greenfield port development in Taman, which has good road access to Russia. The government’s plans are at an early planning stage though.
A Global Ports spokesperson said to Port Strategy, that it’s: “Trying to identify a suitable acquisition target” in the region, but nothing specific is planned yet.
There are also still mumblings that the operator will be buying the Novorossiysk Node Freight Expedition Enterprise, on the Black Sea. Global Ports has said it will consider it as an option, “but only at a reasonable price.”
One thing that is certain though, is that the company is focused on expanding capacity at its existing terminals. To this end, Global Ports invested US$132m last year. Net debt was reduced to US$66m at the end of 2011 leaving it with a very solid financial base to work from.
The Global Ports spokesperson added: “The company owns significant areas of land around its key port facilities and so have the option to further expand – quickly - into these to increase capacity as needed to meet customer growth.”
In the Baltic, Global Ports currently has operations at Kotka and Helsinki in Finland, Muuga in Estonia and St Petersburg in Russia. The company also operates the Port of Vostochny in the Russian far east.
Source: Port Strategy
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