"Сумма" Магомедова увеличивает инвестиции в порт Зарубино до $3 млрд
Ziyavudin Magomedov's Summa Group has signed agreements with three Chinese companies for trans-shipment of about 17 million tons of cargo through the constructed port Zarubino. As ascertained by RBC, the agreements were signed between Summa Group and a Jilin Province grain company for a volume of 10 to 40 million tons until 2025, as well as with Chanchunsky Automobile, a Volkswagon assembly plant, for the import of up to 1 million automobiles and 40,000 vehicle TEUs per year.
Companies in northeast China are interested in trans-shipping their cargo for export and to the southern provinces of the country through Zarubino because the port is a more favorable alternative for delivery of goods than the railroad to the Chinese port Dalyan, Chinese business representatives told reporters during their trip to Russia for negotiations with the Summa Group leadership. They noted that at the end of June, Summa Group negotiated an agreement with Heilongjiang grain company for trans-shipment through Zarubino of 10 million tons per year. In addition, at the end of June, an agreement was signed with Rusal on the trans-shipment of 2 million tons of imported alumina, recalled a company representative. In addition to the contracts already signed, there are a few large contracts being prepared with Chinese companies, said a Summa Group representative.
It was originally planned that the capacity for the Zarubino port, built in the Troika Bay of the Primorsky Krai, would be 60 million tons. By 2018, there would be 4 terminals built (grain, container, general and bulk cargo, and ro-ro). The overall cost of the project as of May 2014 was estimated at 40 billion rubles: 33 billion of which would be from investors, and another 7 billion allocated from the federal budget until 2025 via the Federal Target Program for Development of the Far East and Baikal Region.
Summa Group is financing a large part of the port's construction. For example, the grain terminal, with a capacity of up to 10 million tons, is being built by FESCO and the United Grain Company together (both are part of the group). According to Alexander Vinokurov, president of Summa Group, the company is considering participating in a project with only Russian investors.
The capacity of Zarubino will increase to 100 million tons per year said head of port construction Andrey Zagorsky to journalists a month ago. A Summa Group representative confirmed this information, and noted that the volume of investments, according to preliminary estimates, increased from 1 billion to 3 billion dollars of private and government investment. This is because the volume of cargo that Chinese companies want to transfer is substantially higher than what was declared at the beginning of the project, said a Summa Group representative. Investment in the project could be increased, following the Ministry for the Development of Russian Far East presentation to the board, which was in session at the end of June.
In accordance with the contract, the volume of private investment in the port will rise to 61.8 billion rubles, with 8.4 million rubles allocated from the budget. In this case, the port construction will create 3,500 jobs and bring in 36.2 billion rubles in tax revenue to all levels and social dues until 2025, according to the presentation.
Specifically, tax revenue from the project is a primary interest for Russia, says Infranews CEO Alexey Bezborodov. “The Chinese will pay, and we will receive tax [revenue] and a new jobs,” said the expert. By his estimation, the three signed contracts are worth about $250 million, and the proceeds from the launching stage of the port are about $200 million.