OREANDA-NEWS. May 15, 2008. In 2008, RosMorPort FSUE (Federal Agency of Marine and River Transport) plans to invest RUR 12.5 billion into physical infrastructure, press center of RosMorPort cites the company’s Director General Yuri Parfeonov. Federal budget will allocate almost RUR 8.5 million for implementation of federal special-purpose programs aimed at development of seaport infrastructure. The company’s own and borrowed resources will make almost RUR 1.4 billion, while the rest of the program will be financed by private investors (RUR 2.6 billion), АК&Market informs. The majority of resources will be invested into the development of port infrastructure in the North-West region with some 16% accounting for the development of Big Port of St. Petersburg. Parfeonov said “over half of the investments are planned to be made into port infrastructure of three ports of the North-West Basin.” In 2007, RosMorPort income from core activities totaled RUR 7.8 billion, tax levies – RUR 820 million.

The majority of income came from the activities of the company’s St. Petersburg branch. RosMorPort FSUE was established on May 15, 2003 according to the Government Decree dated September 25, 2002 on improvement of state management of commercial and specialized seaports and the Decree of the RF Transportation Ministry dated November 28, 2002 on measures to implement the Decree of September 25, 2002, as well as the order of the RF Property Ministry dated April 7, 2003.

The company was incorporated by the RF Government, RosMorRechTrans and Federal Property Management Agency. RosMorPort operates federal property in Russia’s seaports.