Nornickel Group has increased its stake in Krasnoyarsk River Port’s authorized capital to 93.7% of the ordinary (voting) shares.
The transactions were carried out as part of the strategy of Nornickel’s transportation and logistics function, which focuses on boosting the efficiency and streamlining the management of the group’s transportation assets.
The price of Krasnoyarsk River Port’s shares was set based on an independent valuation. The sellers were the port’s large minority shareholders.
Krasnoyarsk River Port is the largest river port on internal water routes of the Yenisey Basin. It provides services of receipt, temporary storage and transshipment of goods for the Norilsk Industrial District, oil and gas companies in the Krasnoyarsk Territory, and other customers. Handling cargoes and ensuring that the Far North regions get what they need, the port is a key element of the Northern Supply Haul program. It is designed to reach annual handling capacity of 1.280 million tons of cargo. The figure for 2016 stood at 0.838 million tons. (Nornickel/Ukrainian metal)