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East port by own strength
Why is the largest coal loading complex "East Port" in the Far East being built without state support?
Already next year in the port of Vostochny in Primorsky Krai the third stage of the specialized coal terminal of JSC Vostochny Port will start operating. After its commissioning, the turnover of the largest specialized stevedoring company in Russia will increase from 22,8 million tons in 2015 to 39 million tons of coal per year in 2019. And by the end of the same year, it will be about 50% of the total cargo turnover of the coal ports of the Far-Eastern basin.
In addition to the fact that the third phase of the coal terminal is very powerful, it can be safely attributed to the megaprojects implemented in the Far East. The total investment is more than 27 billion rubles. Moreover, the construction is carried out by the company entirely at their own expense. The question involuntarily comes to mind - is the company confident in the future growth in transshipment volumes or simply does not want to get involved in difficulties that somehow arise when receiving preferential regimes?
What is being built?
The third stage of the Vostochny Port coal terminal in Primorsky Krai has been under construction since December 2012. Its launch is scheduled for 2017. The new site of the specialized production and transshipment coal complex includes two railway fleets in the area of the Nakhodka-Vostochnaya station, one of which will subsequently be transferred to the balance sheet of Russian Railways without compensation (within the framework of the technical connection agreement). The implementation of the project involves the creation from scratch on a site with an area of almost 54 hectares, taking into account the artificial land plot of all the railway infrastructure necessary for transshipment of coal; four warehouses for simultaneous storage of about 800 thousand tons of cargo; two stackers; four reclaimers; car defrosting devices for heating 80 gondola cars at a time; conveyor equipment systems; two tandem rotary car dumpers. The project also involves the creation of a deep-water berth, designed to accept ships with a deadweight of 180 thousand tons and the installation of two powerful ship-loading machines.
After the creation of the third stage, the maximum capacity of the warehouses of the sea terminal "East Port" will be 1,6 million tons and full interconnection of all terminal production facilities will be ensured.
The uniqueness of the third stage is given not only by the scale. It is expected to become the most environmentally friendly modern coal terminal in the Primorsky Territory. This is quite realistic, since by the time of commissioning, a multi-level filtration system will be introduced on it, allowing to purify wastewater to the level of a fishery reservoir - similar to the treatment facilities at the already operating facilities of Vostochny Port JSC.
"Under present conditions, creating a less specialized and modern complex than the third stage of the East Port coal complex is simply illogical," comments Deputy Head of the Transport Market Development Department of OJSC "IERT" Pavel Shestakov. - The queue is really created modern - the company does not embellish those technologies, mechanisms, systems, of which it consists. We can not, of course, say that they make it unique - they are not innovative, they are just modern, they correspond to the current tendencies of terminal construction and market demands. And their use is not the desire of the company as such, but its vital necessity. Since it is impossible to achieve the task - cargo turnover of 39 million tons, that is, to become the largest coal terminal, without modern technologies. "
At the same time, the expert notes that the line under construction is allocated today for its equipment not in itself, but in contrast to other coal terminals in Russia. The same car dumpers are equipped only by a few of them - the operating specialized coal complex of the "Eastern Port", some terminals in Vanino, "Rosterminalugol" in the port of Ust-Luga on the Baltic Sea and in the port of Posiet. "As for how harmless the environment will be for the third turn, it seems that it will be really quite environmentally friendly. Since, most likely, in addition to the filtration system providing for maximum wastewater treatment, other highly effective "environmentally friendly" technologies will be introduced at the terminal - for example, in the same irrigation system, "assured EastRussia correspondent. Pavel Shestakov.
At his own expense
Pavel Shestakov considers it entirely understandable that Vostochny Port JSC is implementing this mega-project without state support - the company is not a resident of the Free Port of Vladivostok, does not receive government subsidies. According to the expert, obtaining state support is currently associated with very great difficulties - for all companies (except for those that specialize in oil and gas). For example, often there is a long decision to provide it - very often it starts to be made only when it already loses its relevance for a particular project.
It discourages interest in state support and a number of unpleasant moments that are present in the very process of its provision - a shift in the timing of delivery, non-compliance with schedules and the amounts of allocation. Therefore, it is more than advisable that companies today try to avoid, as much as possible, from getting involved in public financing. In modern realities, you need to make extraordinary efforts to get it - including a guaranteed cargo base. And this despite the fact that in the case of public financing the company is always in a zone of serious risk. In particular, due to the high probability of late payments by the state, which is simply excluded in cooperation with the bank, said the researcher at the Transport Economics Center of the National Research University "Higher School of Economics" Larisa Morozova.
She also reminds that the construction of the terminal by Vostochny Port entirely at its own expense is not the only case in Russia of creating the port infrastructure through private investment. Moreover, this phenomenon is widespread, since, basically, the entire port infrastructure, including terminals (with the exception of a very small part that the state needs), is being developed today in Russia precisely by the investments made by companies. Port infrastructure is, in principle, the area that stands out most strongly against the background of all other transport sectors in terms of private capital inflows. As in the same highways or iron the private investor goes extremely reluctantly.
According to Anatoly Lazarev, Managing Director of Vostochny Port JSC, in modern conditions, shareholders clearly understand that there are goals and objectives set by the state, which are supported by private business with their real deeds. At the same time, the development of port infrastructure in the Far East will be beneficial for the port as well. The presence of long-term contracts from 3 to 5 years, confirming the cargo base, as well as extensive experience in the Russian coal export market, allow us to minimize the financial risks associated with a large-scale project to increase the capacity of Vostochny Port JSC almost twice.
"The third turn of Vostochny Port JSC, including additional railway parks, is being built entirely at the expense of Vostochny Port's own funds," commented Anatoly Lazarev to EastRussia. - The volume of investments is 27 billion rubles. In this amount, there is, among other things, the share of borrowed funds. Terms, volumes and terms of debt financing are an integral part of commercial secrets. "
"We are not currently residents of the Free Port of Vladivostok. Although our company is interested in obtaining the status of a resident and the corresponding preferences, "Anatoly Lazarev said in the comments of EastRussia.
In addition to the terminal of the "Eastern Port" in the Far East, a number of terminals are actively developing, for example, another coal (East Urals). The coal production and reloading complex "Sever" is building the PKU "Rostransmodernizatsiya" (subordinated to the Ministry of Transport of Russia). Together with the terminal of the "Eastern Port" to 2020, they will give 45 million tons of freight turnover increase in the Far Eastern Port Basin. And this is the minimal increase, as new terminals will also appear in Vanino port (they are going to be built by Kolmar and Tuvan Energy Industrial Corporation Ruslan Baisarov) and in the port of Posiet. The company plans to build its terminal in the Far East and at RTS-Coal.
The big question is, what volumes will these new capacities be filled, including that created by the "Eastern Port". "You can talk about the future prospects of the new terminal of the East Port only if the company has already concluded contracts for one or two years, according to which the shippers bear a certain financial responsibility in case of non-delivery for transshipment of the coal volumes recorded in them. But it is unlikely that such long-term contracts with shippers from the company now have, as those are extremely reluctant today to sign such contracts. Due to the fact that they themselves, in turn, are highly dependent on the conjuncture. You can only talk about one future for the "Eastern Port" to the supplier, about their main shipper - the holding company "Kuzbassrazrezugol", - notes Pavel Shestakov.
However, just the other day the head of the Ministry of Energy Alexander Novak at a meeting with Russian President Vladimir Putin, he announced a revolutionary event. “This year, for the first time, Vladimir Vladimirovich, we have a total amount of coal exports to the East exceeded the western direction. That is, before us, the western direction was dominant, this year the 51 percentage was already coming to the east direction at the expense of such countries as Japan, South Korea, India, Vietnam. This direction is developing, the port infrastructure is developing, and exports are growing in principle, despite the fact that there are difficulties with prices ... for coal products, we have fairly low prices today, ”said Alexander Novak.
"Those volumes, which are expected to be transshipped by the Eastern Port, are indeed possible in the future, as at present a number of shippers have plans for deliveries through the port of Vostochny. And the company "East Port" - guaranteed new volumes of consignors, since having only preliminary agreements and assumptions, the company would not build the third line of its complex, "Larisa Morozova, EastRussia correspondent, assured.
In her opinion, "the company risks investing in this project, only one thing - that it will face after the construction of the terminal with insufficient development of the adjacent railway approaches." And this risk is entirely in the hands of the same state.
The development project of JSC "East Port" has the necessary provision of cargo for the long-term period, the EastRussia correspondent in the port was assured. "In order to establish a successful operation of an industry company, it is necessary to have three important components: an experienced team, reliable equipment and a client base," notes the managing director of JSC Vostochny Port Anatoly Lazarev. - The first we have, and our company has always been proud of its qualified team. The second - the equipment for the third stage of the coal loading complex from the world's leading manufacturers of specialized equipment - is currently being delivered to the construction site where assembly works are being actively carried out. What about the third point: in 2015 at the first Eastern Economic Forum we signed a number of agreements with the largest coal mining companies of Russia - JSC "UK" Kuzbassrazrezugol "and JSC" SUEK "on cooperation and cooperation in the organization and transshipment. By these agreements, we have partially loaded the capacities of the third stage under construction for the period up to 2030. "
State support is not imposed
Minvostokrazvitiya as a whole does not comment on the project of JSC "Eastern Port". According to the representatives of the department, the construction documentation once visited the Ministry for the procedure for selecting investment projects for the provision of state infrastructure support, but it needed a partial refinement.
At the same time, the main volumes of state financing of transport projects are distributed today through federal targeted programs through the Ministry of Transport of Russia. Due to the lack of funds, not all investment projects have been confirmed by the ministry. Therefore, even the railway approaches to the port JSC "East Port" will have to build independently.
"In an market economy, the investor is primary. Therefore, for its part, the Ministry of Regional Development does not impose any state support measures on anyone, "the Minister for the Development of the Far East recently said in one of his speeches Alexander Galushka. Nevertheless, the business that is able to realize its project in the Far East without the participation of the state, its department is not going to bypass the whole side.
For such companies, a "special" measure of state support has been developed and is likely to be adopted in the short term: inclusion of the Far East Development Program in the State Program: "In the Far East today there are a number of significant projects that do not receive state support - the benefits of TORs, the Vladivostok Free Port or subsidy On the creation of infrastructure. Many of them, for example, in real estate: companies in the Far East today do not need government benefits when building business centers or large shopping complexes. But, at the same time, they need, for example, assistance in matters of technical connection, provision of a land plot, or in eliminating some difficulties in interaction with various, including federal, authorities and various state structures - with the same Russian Railways. In accordance with this, the government has been developed and introduced, and in August a new state support mechanism will be adopted, providing for the state's assistance in solving such problems, "said the Director of the Department for Ensuring the Implementation of Investment Projects of the Minsk Region. Alexander Krutikov.
For such projects to receive priority status, the Ministry of the East is ready to include them in its state program so that they are a full-fledged part of it. At the same time, for each of them, it is planned to create a roadmap providing for the provision of state support measures at any level - from municipal to federal, as well as including, among other things, specific instructions to various structures. That is, an individual approach will be applied to each individual project.
"The goal of attending all the more or less promising projects in the Far East from the state today is not exactly. On the contrary, its purpose is just that business in the Far East in general without it cost. Since this will mean that the state has created on its territory such conditions under which state assistance in implementing any projects on it to business is not required, "Alexander Krutikov announced in his turn.
In the opinion of the experts interviewed, this initiative is very noteworthy - in fact, the usual and standard business promotion the ministry attaches to the form of one of the significant state support measures. Would that business, for which the state novelty is intended, take advantage of the new measure? Probably, the relevant decision of the "Eastern Port" will be indicative.
Vostochny Port JSC is the largest specialized coal terminal in Russia, equipped with conveyor equipment, car dumpers, shiploaders and a unique multi-stage magnetic coal cleaning system, which has no analogues in Russia.
The company's cargo turnover in 2015 amounted to 22,8 million tonnes of coal - the fifth part of all coal exports from Russia's seaports and about 32% of coal transshipment in the ports of the Far Eastern Basin.
JSC "East Port" is implementing a large-scale investment project for the construction of the third stage of the coal complex, including the creation of a federal railway infrastructure. In 2017, the facilities of the Third Phase will be put into operation, which will increase the cargo turnover of JSC Vostochny Port to 39 million tons of coal in 2019. The planned volume of transshipment is provided by the cargo base of Russian coal mined in Kuzbass and other coal basins of the country.