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FESCO wants to become the largest transport group in Russia linking the Far East with Asia and Europe
According to the Kommersant newspaper, the board of directors of the FESCO transport group has approved the group's development strategy until 2020. It assumes a doubling of revenue and EBITDA - to $ 2,4 billion and $ 460 billion, respectively. FESCO intends to focus on container transportation through the Far East to the Asia-Pacific countries and may completely abandon open wagons. According to experts, the implementation of the strategy may cost about 80 billion rubles, and FESCO will need the help of state banks.
FESCO confirmed that the group has prepared a strategy. “We are optimistic about growth prospects, because the company benefits from two key trends: increased cooperation between Russia and the Asia-Pacific countries and accelerated containerization of cargo turnover in Russia,” said FESCO Vice President Konstantin Kuzovkov.
FESCO wants to become the largest transport group in Russia, connecting the Far East with Asia and Europe by sea lines and Transsiberian container trains. The company's strategy is being finalized and will finally be presented to investors at the end of June.
As the interlocutor of Kommersant explained, the group wants to increase the capacity of the container terminal of Vladivostok Commercial Sea Port OJSC by almost 2. Yesterday, FESCO reported that the required amount of investments for this purpose is 6 billion rubles.
The source “Kommersant” speaks about the possibility of buying the Vladivostok sea fishing port (227 thousand TEU, now a controlling stake from Geotex CJSC).
Promising areas in FESCO are, for example, the "Big Port of Zarubino" in Primorye, the development of the Northern Sea Route, the construction of icebreakers and the purchase of bulk vessels (just FESCO 26 ships).
The main shareholders of FESCO are Summa Group Ziyavudin Magomedov (32,5% of shares), GHP Group Mark Garber and Ian Hannem (controls 23,8% of the shares) and TPG Capital (17,4% of the shares), in 2012 they bought out 73,74% of the company’s shares from Sergey’s structures Generalova for more than $ 1 billion. FESCO's revenue in 2013 year - 36,3 billion rubles. Net profit - 550 million rubles.