Bloomberg News

Novorossiysk Commercial Sea Port to Boost Cargo Volumes in 2012

March 13, 2012

OAO Novorossiysk Commercial Sea Port (NCSP), Russia’s largest port operator by volume, expects cargo turnover to rise about 8 percent this year, while revenue may reach $1.3 billion.

The group’s cargo volumes will probably climb to 170 million metric tons from 157 million tons last year, Deputy Chief Executive Officer for finance Andrey Bubnov told reporters today in Moscow.

Revenue is forecast to reach $1.2 billion to $1.3 billion, Bubnov said, without giving a comparison for 2011. Earnings before interest, taxes, depreciation and amortization for the year will probably be $620 million to $640 million, he said.

Novorossiysk, which operates the port of the same name on the Black Sea and the Primorsk port on the Baltic Sea, plans $200 million in investments this year, part of a more than $1.1 billion spending plan to 2020, Bubnov said.

To contact the reporter on this story: Ekaterina Shatalova in Moscow at eshatalova@bloomberg.net

To contact the editor responsible for this story: Mark Sweetman at msweetman@bloomberg.net


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