A $545 million loan has been made available by the Russian Bank for Development for Economic Affairs (VEB) for the ongoing development of port infrastructure at the Baltic port of Ust -Luga. The loan, which is being made to Rosneftebunker, will have to be repaid within eight years, although the percentage interest rate is not known. Ust-Luga aims to be one of Russia's leading coal and oil export ports in the Gulf of Finland.
Barry Cross