Eurogate, NCC partner for Russia, Germany terminals

Eurogate, NCC partner for Russia, Germany terminals Moscow-based National Container Co. and German terminal operator Eurogate have signed a strategic partnership agreement for two container terminals under construction in Ust-Luga in the Leningrad region of Russia and Wilhelmshaven in Germany.
   Under terms of the agreement, Eurogate will gain a 20 percent stake in the Baltic Container Terminal (BCT) in Ust-Luga that is due for phase-one opening at the end of 2008. BCT will have an initial handling capacity of up to 180,000 TEUs per annum, rising to a projected 3 million TEUs by 2019.
   In return, NCC has the option to buy 18.2 percent of shares in Eurogate Container Terminal Wilhelmshaven (JadeWeserPort) that must be exercised before June 30, 2008. JadeWeserPort is due to start operations in 2010 with an annual capacity of about 3 million TEUs.
   'Being chosen as a strategic foreign partner for the most important terminal project in Russia is a huge success for us,” said Thomas Eckelmann, Eurogate’s president. 'It's of great importance for Eurogate to ensure that its network of container terminals in the Baltic region covers Russia which is a rapidly growing market. Our cooperation will contribute to continual increase of cargo flow between container terminals in Russia and Germany.”