Russia: OJSC United Grain Company to increase capacities

Moscow / RU. (ami) The press-service of OJSC United Grain Company announced that on April 29 OJSC United Grain Company confirmed the investment program for the current year. According to this program, the development of four objects in the Azov-Black Sea Basin, which is the major channel of Russian grains export shipment, is the priority project of the company. These objects are: OJSC Novorossiysk bakery products plant, OJSC Grachevsk elevator, OJSC Elevator (Budyonnovsk), OJSC Surovikino elevator.

The result of the program realization is the increase of aggregate capacities for storage on the elevators by 111,7 thousand tonnes and the increase by 140 thousand tonnes at the water terminals, and also the increase of annual shipment volumes from elevators from 0,42 to 1,22 million tonnes and the increase of annual shipment from the water terminals from 3,5 to 5,25 million tonnes (including the increase of annual shipment capacities of Novorossiysk bakery products plant from 3,5 to 5,0 million tonnes).

The term of reconstruction and building of the investment objects totals two years. The general expenditures for reconstruction and building will total nearly five billion Russian Rubles (approximately 130 million Euro on June 16, 2010).

The investment program of OJSC United Grain Company is the element of Russian grain market infrastructure development. The press-service announced that within the frameworks of this work, the company plans the building of the nodal central (routing) and linear elevators, building of the new terminals and modernization of the old-fashioned sea terminals, improvement of the domestic logistics by means of new technologies realization of the grain shipment routing and creating of the park of rail cars- grain carriers.

The realization of infrastructural company´s projects is based on the principle of state-private partnership, which can explain the active interest of various private investors to the cooperation with United Grain Company.

The interest of the private investors was also called by the offer of United Grain Company to realize some perspective projects, which are oriented on the increasing the export potential of Russian grains, firs of all, which meets the interests of all market participants.

In 2010, OJSC United Grain Company signed the agreements about the joint projects realization with the largest participants of the grain market, with the operators of the development port capacities projects, the company is forming various business plans, adjusting the main parameters of building and modernization of grain infrastructure objects.

United Grain Company to increase own export capacities

OJSC United Grain Company plans to enlarge and develop own grain shipment capacities, including OJSC Yeysk port elevator, which is considered as the important component of the network of shallow-water ports of the Southern region of Russia, according to the Strategy of development of the company for 2009-2012 and for the period till 2015, which was affirmed by the board of directors of United Grain Company on December 21, 2009, announced the press-service of the company on June 02. As a reminder, the announcement also informed that United Grain Company planned to receive the control over OJSC Yeysk Port Elevator, which gave its 46 percent of shares to United Grain Company in accordance with the Decree of the President of the Russian Federation dd. March 20, 2009.

For the further efficient realization of the tasks, which the Strategy of development of the Company includes in accordance with the Decree of the President of the Russian Federation, United Grain Company considers the task about increasing of own shares in some subsidiary and dependable organizations in order to get more control, and of course, more efficient management of daughters companies, announced the press-service of United Grain Company.

According to the reporting information, OJSC United Grain Company confirms own interest in the receiving of the control stock of shares of OJSC Yeysk Port Elevator.

According to the Decree of the President of the Russian Federation, the Government gave the governmental part of shares of 31 companies in the sphere of grain storage and processing, located in 18 regions in Russia, to the authorized capital of United Grain Company. The rate of United Grain Company in these companies varies from 25,5 to 100 percent minus one share (source: agrimarket.info).

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