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NCC and EUROGATE partnership

NCC and EUROGATE partnership

Under the terms of the agreement, EUROGATE is to take over 20% of shares in BCT with the right to be represented in the Board of Directors, as well as investing in the terminals’ construction and development programme. In return, NCC has an option to buy 18.2% of shares in EUROGATE Container Terminal Wilhelmshaven which has to be exercised before 30th of June 2008.

JadeWeserPort in Wilhelmshaven is a new German deep-water port which will be operated by EUROGATE with terminal-related superstructure investments of about EUR 350m and a capacity of about 3m teu. Phase one of Wilhelmshaven is expected to commence operating in 2010.

“Being chosen as a foreign partner for the most important terminal project in Russia is a huge success for us”, Thomas Eckelmann, president of EUROGATE, said. “It is 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 co-operation will contribute to continual increase of cargo flow between container terminals in Russia and Germany”, Mr. Eckelmann added.

President of NCC, Alyona Ashurkova, commented that “this agreement with EUROGATE is an important element of NCC’s development strategy and it creates a solid base for a long-term partnership with aleading European terminal operator whose expertise will be of high value to NCC”.