Russia: Zarubino Seaport Development Contract Signed

During the XVIII St. Petersburg International Economic Forum, Andrey Tarasenko, General Director of FSUE “Rosmorport”, and Alexander Vinokurov, the President of the “Summa” group of companies, signed the agreement on cooperation in implementation of investment project for construction of universal and specialized handling terminal for transshipment of cargo in Zarubino Seaport.

The Agreement provides for close cooperation between the parties during the drafting of the declaration of intent to invest in the construction of appropriate port infrastructure in Zarubino Seaport.

The declaration of intent, which will be developed by the investor, will reflect all the issues related to the definition of the order of interaction between the parties of the agreement for the design and subsequent construction of the seaport facilities, the formation of the necessary sources of funding and the subsequent distribution of property rights of the private investor and the Russian Federation on the port facilities infrastructure after the completion of their construction.

[mappress]

Press Release, May 26, 2014