The European Bank for Reconstruction and Development is considering financing the construction and redevelopment of a new container terminal in the Greater Port of St. Petersburg with a handling capacity of approximately 345,000 TEUs per annum.

The proposed Project involves the construction and redevelopment of an existing cargo terminal into a new container terminal located at Turukhtan Island in the Coal Harbour, commonly known as the “Fourth Cargo Area” of the Greater Port of St. Petersburg.  Construction works on the Project are expected to be completed by May-June 2010.

In order to assist the EBRD to carry out its due diligence with respect to the proposed Project, Royal Haskoning was commissioned to undertake a market study of the container sector in Russia in general and the Greater Port of St. Petersburg in particular.