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Monday 11.12.2017 | Name days: Valdis, Voldemārs, Valdemārs
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Riga Court allows the sale of VCP’s share in Baltic Coal Terminal

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Author: Screenshot/balticcoal.comIn the beginning of 2013, Ventspils Commercial port (VCP) had made a contract regarding the sale of 50% of its owned shares at Baltic Coal Terminal (BCT) to its partner – Indtec Baltic Coal.

On April 19, 2013 Ventspils Commercial Port (VCP) concluded an agreement to sell its 50% stake in Baltic Coal Terminal (BCT) to its partner Indtec Baltic Coal.

The beneficial interest of Aivars Lembergs in VCP is attached in the Criminal Case against him since the end of 2007.

After the completion of the sale, Indtec Baltic Coal will become the 100% owner of BCT.

Indtec Baltic Coal is a company affiliated with the Russian coal producer and cargo owner Zarechnaya Coal Mill.

BCT is regarded the most environmentally friendly coal terminal in the world. It began its work in December 2008, when the first part of the coal-handling terminal was completed. The bank consortium of DNB, the Latvian branch of Nordea Bank Finland and UniCredit Bank provided 50 million EUR for the construction of the terminal.

Terminal is one of the largest investment projects ever carried out in the Ventspils Port. The completion of the first part of the terminal allows the company to handle up to 6 million tons of coal per year. The construction of the second part of the terminal will allow the company to increase its throughput capacity to 10.5 – 12 million tons.

Ref: 000.000.109.7082


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