PRESS: STLC sees Lavna’s minimal rate of coal handling at $7.5/tn

MOSCOW, Jul 26 (PRIME) -- The minimal rate of coal handling at the port of Lavna in Russia’s Murmansk Region is preliminary estimated at U.S. $7.5 per tonne, Kommersant business daily reported on Monday citing State Transport Leasing Company’s (STLC) Deputy CEO Mikhail Kadochnikov.

“At the start of the year we finalized marketing of the project by efforts of PwC and came to the minimal rate of transshipment at the terminal in the amount of $7.5 per tonne in prices of 2020. The rate of $7.5 allows the project to be paid off within the 2043 financial model in terms of both debt resources and own capital,” he said, as quoted by the daily.

Kadochnikov also said that the forecast could be revised up depending on the situation. “We assume that the forecast with the basic rate of $7.5 per tonne will be changing in our favor during the period until 2043 and do not rule out a potential upside thanks to such a pessimistic approach to assessment of the market,” he said, as quoted by the daily.

STLC coordinated a long-term agreement on coal handling for the terminal’s whole capacity under a take-or-pay model until 2043, Kadochnikov also said.

“We have coordinated an agreement with Port Infrastructure Development Center for the whole of 18 million tonnes. It includes consolidated supplies from independent coal produces,” he said.

Kadochnikov also said that construction of railways to the terminal can be finished until 2023.

The Lavna project includes construction of transport infrastructure and construction of container, coal, and oil terminals, as well as reconstruction of existing facilities.

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