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The delayed terminal in the Free Port

Japanese investor did not start construction of coal transshipment at 60 billion rubles. In Primorye in time

The company New Coal Terminal, established by the Japanese investor, which became a resident of the SPV a year ago, has not started construction of the declared facility - a powerful coal transshipment complex designed to destroy the logistics monopoly of Russian exporters of "black gold" in the Far East. The main reason for the shift in the timing of the project, according to the company itself, is "lack of support from the Russian state". Experts put the question in another way - do we really need such a terminal?

The delayed terminal in the Free Port
Special project TORA and Free Port
Becoming a resident is not enough
"The project has no support from the Russian state, which was counted by our Japanese parent company TOSEI Co., Ltd and the project lender in the person of one of the Japanese banks. Therefore, the construction of the largest specialized transshipment complex, planned for the beginning of 2017, did not start. While we are forced to shift the whole schedule for a year ahead. Therefore, the launch of the first stage is planned not for 2019, but for 2020 year ", - Alexei Schepin, Deputy General Director of OOO Novy Ugolny Terminal (NUT), said to EastRussia.

Under the absence of support, the top manager understands any documentary evidence from the Ministry of Economic Development of the Russian Federation "in the form of a letter of intent, for example, where it will be clearly stated that Russia needs this terminal, which annually gives up to 50 million dollars of taxes to budgets of all levels and about five hundred jobs for Primorye. "

NUT, established by the Japanese production and trading holding company TOSEI Co., Ltd., was registered as a resident of the free port of Vladivostok (SPV) exactly one year ago. In April 2016, the corresponding agreement was signed between it and JSC "Corporation for the Development of the Far East" (KRED). The resident joined SPW with the project of building the first "public" coal terminal in the Far East with the throughput capacity of 20 million tons of coal per year, bringing it to 40-50 million tons in the future. For comparison, the largest in the region complex for transshipping coal - "Eastern Port" - handles about 20-22 million tons per year. The amount of declared investments from TOSEI Co., Ltd. - $ 866 million, terms of terminal construction - 4 year.

The "public" status implies that in an region where the dominant position in coal logistics is occupied by the daughter ports and terminals of all four Russian raw materials holdings - Evraz, Kuzbassrazrezugol (KRU), Mechel, SUEK - an independent operator will be established to provide free access to Asian markets for small and medium-sized coal mining companies from Primorye, Yakutia, Kuzbass and even Mongolia. In Primorye, the investor is even ready to invest in the restoration of the abandoned mines of the Partizansky coal-mining complex, which are located near the future terminal.

TOSEI Co. - not a beginner in the coal industry, stated on the main page of her site: "We offer various types of coal fuel for power plants and the metallurgical industry. For many years our company has been forming an investment portfolio related to coal mining in Russia. We have operating assets (mines) in Yakutia. We help our Russian partners in the mining industry to enter the Japanese market. We also help Japanese companies - who are interested in investing in the Russian coal industry - to look for partners in Russia and conclude deals. Today, TOSEI Corporation directly participates in projects for coal mining and logistics, passing through the Far Eastern ports of Russia. Our company is trying to combine its knowledge and experience in Russia with financial resources in Japan to implement joint projects in the coal industry. "

East Europe. DOSSIER. TOSEI Co., Ltd is part of the Japanese holding company Tosei Group, which is focused on the mining industry and related industries. One of the main activities of the holding is the export of second-hand and new mining and construction equipment to the APR countries, including Russia. TOSEI Co., Ltd. (as it follows from the information on the corporate website of the Tosei Group holding) specializes in the production, transportation and sale of coal, and in Russia it plans to obtain a permit to develop three coal deposits (two in Primorsky Krai and one in Khabarovsk) with the total volume of proved coal reserves - 146 million tons.

It is curious that the Japanese intended to raise the coal project in Primorye with the help of a junior Russian partner who does not have an obvious and direct relationship to the coal industry. According to the extract from the Russian USRLE, LLC "New Coal Terminal" (OOO NUT) was established by the Japanese company TOSEY as a legal entity back in May 2011. With an authorized capital of 69 million rubles. The location of OOO NUT is Vladivostok. Types of activity: transportation, road transport, accounting and audit, activity in the field of law.

According to the information disclosure server, the revenue of OOO NUT in the period from 2012 to 2013 years fell from 2,4 million to zero, while profit stably remained at zero until 2014 year. From this we can conclude that the business activity of the company in those years was also, practically, zero.

It is noteworthy that the general director of OOO NUT Alexei Shchepin is also listed (according to the USRLE) as the founder and head of such companies in Primorye, as: DV Nedra LLC (the main business is coal and anthracite mining and processing), Tosei LLC (trade in cars from Japanese auctions), OOO Promzona (construction of port and hydraulic structures), OOO Pasifikagrokompleks (growing and trade in vegetables). It is also noteworthy that Aleksei Shchepin, the general director of OOO NUT, works with his brother-namesake Aleksei Shchepin (this is how he introduced himself in a telephone conversation with the correspondent of EastRussia).

Today, according to the management of the NUT, small and medium-sized coal producers, including those from the Primorsky Territory, are not able to export their coal to the markets of the countries of the Asia-Pacific region (APR). Meanwhile, according to calculations by TOSEI Co., Ltd. experts, in the next decade the demand for solid fuels in Japan and other APR countries may exceed 200 mln. Tons per year. The Russian Far East, even taking into account the development of existing transshipment complexes (Vostochny Port, Daltransugol terminal, Posiet port, Vaninsky port, Astafyev Terminal and a number of other smaller ones), can provide export of no more than 110 mln tons in year.

"In this situation, the construction of our terminal is more than timely. It will close a significant part of the deficit in the region's throughput capacity, make it possible to export coal directly to Russia, the most impor- tant importing country, and the entire legion of small and medium-sized coal mining companies in the Far East and Siberia, which do not yet have full-fledged transit-handling access to Asian markets, but dream get it, "- says Alexei Shchepin.

Green technology for black cargo
According to him, the parent company, TOSEI Co., Ltd has already invested about two million dollars in its project in the Far East. All of them went to ensure the preparatory period of construction in 2015-first half of 2016 year: market monitoring, preparation of pre-project and project documentation, selection of design organizations, formation of funds. In March of this year, construction work in the sea should already begin - erection of a pier and overpass for mooring multi-tonnage vessels. Input of the first stage was originally planned for the middle of 2019 year, the second - for the middle of 2021. Today these terms are shifted accordingly for June 2020 and June 2022.

Over the technical design of the terminal, said the deputy head of the resident company, three organizations worked: the engineering company Morstroytechnology from St. Petersburg, the design and exploration institute Dalgiprotrans from Khabarovsk and the Far Eastern Research Institute of the Navy from Vladivostok.

According to the design documentation, the new coal terminal will be located far from populated areas (at least at a distance of 3,5 km, in order to exclude any negative impact on the environment) in the open space of 171 ha near the Khmylovsky railway station, which has access to the terminal terminal station of Transsib - Find-Eastern. The terminal area directly overlooks the sea in the area of ​​Cape Klykov, in the north-eastern part of Nakhodka Bay.

The terminal infrastructure will include: a port railway station (20 tracks on 1050 meters each), a railway freight front (2 railway tracks equipped with weights, two defrosting devices, two side car dumpers with 1750 tonnes / hour capacity), an open warehouse with a maximum capacity of 1,6 million tons, transshipment equipment, conveyor system, mooring front (2 deep-water berth, each 440 meters in length and the depth at the berth wall - 15 meters), approaching platform 3 km long for large-tonnage buildings, administrative and auxiliary buildings, repair boxes and garages, purification systems, including the system of biological wastewater treatment and sewage, energy complex facilities (transformer stations and distribution units).

To minimize the harmful effects of coal dust, the project provides for the protection of special conveyor lines, as well as the system of irrigation of the pile of coal with water in the summer months and a special compound - in winter, which binds the surface of the particulate energy carrier with a hyperfine film and thereby prevents the scattering of the smallest coal particles.

Narrow Transsib
Experts interviewed by EastRussia do not exclude: the project can in principle be implemented, albeit with a delay. True, there are several "buts."

The main "if": the investor will still need to enlist the moral support of the federal Russian authorities and take on the modernization of the railway infrastructure, which today is perhaps the narrowest (in the literal and figurative sense of the word) place of Far Eastern logistics.

"Russian coal today is very competitive (not least due to the devaluation of the ruble in 2014 year) and is in great demand in the APR countries. And this is for the company NUT and its Japanese founders - plus. But they do not have their own cargo base, like the same Evraz or Mechel - and this is a minus. Here, indeed, much depends on the degree of the location that will be rendered or not rendered to TOSEI company at the very top of Russian power. I think that the management of the Japanese company understands this perfectly and takes the necessary steps. The Japanese are very interested in the successful implementation of their project in Russia, "believes Yevgeny Bykov, General Director of Transport Leader LLC.

EastRussia help. According to the Ministry of Energy of the Russian Federation, from January 2013 to March 2017 coal production in the country increased by 27,8% and reached about 1,5 billion tons. Investments in the fixed capital of coal companies in 2016 started to grow for the first time after four years of decline, and by the beginning of the second quarter 2017 exceeded 73 billion rubles, the growth was 21,5%. Over a five-year period, the volume of Russian coal exports to other countries increased by more than 50% and amounted to 653,1 million tons. Russia's neighbors in the Far Eastern region are active importers of Russian coal: China, Japan, South Korea. The territory of the Russian Far East accounts for 35% of all coal resources of the country. In the region, about 100 fields with proven reserves of 19,3 billion tons have been explored, of which 63% is brown coal, 37% is coal (higher in its combustible properties). The bulk of the reserves (about 75%) falls on Yakutia, the Amur Region and the Primorsky Territory. World prices for coal over the past five years showed strong volatility and in March 2017 amounted to about $ 53 per ton, which is $ 4 less than in March 2014.

Alexey Dolmatov, the head of the logistics department at VR Logistic, agrees with the opinion of the NUT management that the Far Eastern market of coal logistics is monopolized today and sees certain difficulties for its rapid entry into it: "In fact, we can talk about monopolization of the coal export market in the APR countries. Medium and small coal producers do not have access to the buyer for these reasons. If the Japanese realize this project on a declared scale, another independent player in the industry will appear in the Far East, which will create additional competition and help start the movement in the cost of stevedoring services, give additional impetus to the development of the region. The status of the SPV resident and the large-scale investments that are announced by the initiator of the project can help to make this happen. "

However, there are factors that can severely limit the implementation of a new coal-handling project in Primorye, VR Logistic believes. The main ones are: weak railroad capacity, lack of own base with resources. "It is possible that TOSEI starts the project to create a full-fledged supply chain, similar to the terminals of the Eastern Port (owner of the KRU) and Daltransugol (the owner of SUEK) and is already negotiating with a number of coal mining companies in the region in order to , to create a resource base for themselves, "Aleksey Dolmatov suggested.

Evgeny Novosel'tsev, Deputy General Director of JSC "DVNIIMF", in his modal estimate takes into account the stable stable demand in Japan for Russian coal: "All investors who want to enter this regional market have the same problems: relatively low railway capacity, unstable conditions , problems with energy, etc. But if TOSEI has a guaranteed sales market for coal (Japan), and it will be sent in the future through their terminal, the investor's chances are quite good. Primorye is still interesting in connection with the plans of the Japanese to restore the local mines in the Partizansky district. Although I do not presume to judge how this undertaking is feasible. It's hard for me to make forecasts about the world price of coal. But if the market collapses again, the rapid return on investment - almost the size of a billion dollars - will be in question. "

Nikolai Matvienko, a coastal expert in the field of logistics and transport, is also inclined to view TOSEI Co., Ltd's utopian plans as part of the Far Eastern market of coal logistics: "Is it real to build a terminal? Really. In the medium term, prices for energy carriers and chemical raw materials will only grow. True, the operating costs on similar terminals will grow (on the same ecology, at least). So the chances of gaining a foothold from a Japanese company are. Here, in general, anyone has a chance. After all, coal, for example, Vladivostok fish port, transship ".

Yuri Rybalkin, General Director of Maritime Engineering Company: "Taking into account the current world situation and Russian export opportunities, the existing capacities of the Far Eastern ports for coal transshipment can be increased by 50-60 in the most pessimistic view of the plans of the Japanese to participate in the transportation of coal from the Far East. million tons per year, but for this it is necessary to intensify the planned RZD work on the modernization of the Baikal-Amur Railway with a possible continuation along the coast - to the southern Nes merzayuschih Primorye ports.

Without a powerful development and reconstruction of the railway network in the Khabarovsk and Primorye Territories (for example, the capacity of the Transsib on the Volochaevka-Ussuriisk section is almost completely exhausted) it will be impossible to develop existing ones and build new ports. Assessing the real financial and economic situation in the country, as well as the existing sanctions, it is difficult to count on a rapid increase in railway capacity, and therefore the desire of the Japanese company TOSEI to build a new coal terminal in Primorye can remain only at the level of intentions. "

However, TOSEI Co., Ltd in the construction of a new coal terminal near Nakhodka is ready, follows from the project estimate, invest $ 140 million in the construction and reconstruction of the railway infrastructure.

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