NOVOROSSIYSK, RUSSIA — Deloports Limited announced on Dec. 12 that it has sold 25% plus one share in its Black Sea grain terminal Kombinat Stroykomplekt (KSK) to Cargill.
KSK is a modern grain terminal, located in Novorossiysk, Russia, with annual throughput capacity of 3.5 million tonnes. KSK has both auto and rail reception, and its silo park is able to simultaneously store up to 116,000 tonnes of grain.
The terminal uses modern and efficient loading equipment and deep-water berths, Deloports said. The terminal construction was completed in the second quarter, with over 1 million tonnes of export grain cargoes already loaded in the new harvest season from July 1 to Dec. 12.
"It is our first investment in a Russian port on the Black Sea and will strengthen our offering to the market, providing a channel to connect our Russian grain operations to the rest of the world," said Andreas Rickmers, head of Cargill's grain and oilseeds operations in Europe, in a statement on Dec. 12.
“We welcome our strategic partnership with Cargill,” said Timofey Telyatnik, chief executive officer, Deloports. “Introduction of a strategic partner in an asset which we built greenfield, is a logic conclusion of the investment stage of the terminal at this moment. We completed a thorough technical and legal due diligence and received a quality and monetary appraisal of our investments.
“Partnership with Cargill will allow KSK to implement best global corporate governance practices. KSK has always been positioned as an independent terminal and it remains available for business with all potential clients. We value this status and as a majority shareholder we will ensure high quality service for all existing and future clients of the terminal. New strategic investor will only reinforce the KSK presence in the market.”
Morgan Stanley acted as financial advisor and Herbert Smith Freehills acted as legal advisor to Deloports.
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