Press
Two sources close to Summa and the Port of Rotterdam, as well as a Russian government official,say that the authorities of the Port of Rotterdam, along with Summa Group and VTTI, a subsidiary of the Dutch oil trading company Vitol, will sign an agreement today to develop and operate a crude-oil loading terminal, the Tank Terminal Europoort West (TEW). This has been confirmed by a representative from Summa. Vitol could not be reached for comment. A spokesman from the Port of Rotterdam stated that the port's management would announce the winner of the tender today and they would then sign the agreements, However he did not name the winner or the names of those who took part in the tender....
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Ziyavudin Magomedov’s Summa Group has decided to get into the energy business – the holding company is preparing to build two thermal power stations in Primorye at a total cost of over 50 billion rubles.
A representative from Summa told Vedomosti that Investor Energy, LLC (part of Summa Group), the administration of the Primorye territory, and the state company RAO Energy Systems of the East signed an agreement of intent on Saturday to build the plants.
The companies are expected to build two thermal power stations between 2012 and 2015 in Nakhodka and Ussuriysk, with a combined capacity of 740 MW (approximately 370 MW apiece). A total of over 50 billion rubles will be invested in both projects, claims a representative from Summa, noting that it is expected that the projects will be financed using both the company’s own funds as well as borrowed capital....
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A representative from Summa told Vedomosti that Investor Energy, LLC (part of Summa Group), the administration of the Primorye territory, and the state company RAO Energy Systems of the East signed an agreement of intent on Saturday to build the plants.
The companies are expected to build two thermal power stations between 2012 and 2015 in Nakhodka and Ussuriysk, with a combined capacity of 740 MW (approximately 370 MW apiece). A total of over 50 billion rubles will be invested in both projects, claims a representative from Summa, noting that it is expected that the projects will be financed using both the company’s own funds as well as borrowed capital....
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Summa Group owned by Ziyavudin Magomedov applied for the tender called for oil loading terminal construction in one of the largest European harbors – Rotterdam. Summa Group meets the requirements as a potential oil constructor and operator in full, nevertheless it remains unclear who its application is going to compete with. Analysts say that Russian company is able to build the oil station up to 100 million tones and launch sea transportation....
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