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17/02/2014
15:01
M&A: Volga Group buys 50% stake in Sukhodol

Volga Group has acquired a 50% stake in Sukhodol LLC constructing a new dedicated bulk terminal in Sukhodol Bay (Shkotovsky district, Primorsky Krai). The terminal has a design capacity of 20 million tonnes per year, Volga Group informed.

The project will be implemented with SDS Holding Company.
The bulk terminal will be used for coal exports to Russia's Asian-Pacific markets, such as Korea, India, China and Japan. Construction of the first stage is scheduled to be launched in July-September 2014. Commissioning of stage 1 (handling capacity reaching 6 million tpa) is slated for July 2017.

Construction of the stages 2 and 3 is scheduled for 2019-2021.

Volga Group (Volga Resources Group until June 2013) is a private investment fund established in 2007 in Luxembourg. The fund invests in oil and gas industry projects as well as infrastructure, development and financial services projects in Russia, the CIS countries, Central and Eastern Europe, and Turkey. The principal beneficiary of the Volga Resources Fund is Gennady Timchenko.

Volga Group's key assets are: 23% of the shares in NOVATEK, 44% of Gunvor shares, 37.3% of SIBUR shares, 80% in Transoil and 63% in STG Group.


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