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BFC and Rosmorrechflot sign agreement on creation of land plot at Turukhtanniye Islands terminal in Saint-Petersburg

On April 8, 2016, Baltic Fuel Company Group and Federal Marine and River Transport Agency (Rosmorrechflot) signed an agreement on creation of an artificial plot of land.

Kontur LLC acts in the name of BFC subsidiary as a contracting party.

Such an agreement should be signed under Article 7 of the Federal Law of the Russian Federation from 07.19.2011 (No 246-FZ) “About the artificial plots of land created on water objects, being in the federal property, and about modification of separate legal acts of the Russian Federation ”.

The agreement on creation of an artificial plot of land of 1.43 hectares was signed for 30 months. Over this period BFC should issue work documentation on the project, carry out land reclamation, backfilling and sheet piling operations, as well as filling the plot of land.

In the nearest future BFC is to obtain from Rosmorrechflot a permit for works on creation of an artificial plot of land and a permit for construction of capital facilities. When construction is completed Rosmorrechflot will provide BFC with a permit for commissioning of the artificially created plot of land.

The project on construction of technological infrastructure facilities at the Marine Oil Terminal “Turukhtanniye Islands" of BFC within the water area of ​​Big Port St. Petersburg is included into the area planning scheme of the Russian Federation in the field of federal transport approved by RF Government's Decree dated March 19, 2013 (No384-r).

The Declaration of Intent to invest into the project was approved by the Federal Marine and River Transport Agency on July 30, 2014. The permit to create an artificial plot of land was issued on December 17, 2013. Rosmorrechflot's Decree dated September 22, 2014 approved the project's planning documentation.

The terminal currently consists of a 7.3-hecare plot of land and two berths for transshipment of oil products. The terminal's annual throughput is to be increased to 2.4 mln t by 2017 and to 4-5 mln t by 2020.

Investments into the project are estimated at more than RUB 3 bln.