On 12 June 2019, AS Tallinna Sadam (hereafter "Tallinna Sadam") signed a
cooperation agreement and a building title agreement with PK Terminal OÜ
(hereafter "PK Terminal") for the development of a dry bulk and general cargo
terminal in Muuga Harbor, which deals with the handling and storage of round
timber, wood pellets, metal products and crushed stone.
With the agreements, PK Terminal took over the using rights of the two quays and
their hinterland area used in the former steel sheet galvanizing plant, and in
addition the Koorma 2 real estate. The total area of the dry bulk and general
cargo terminal development is 4.4 ha. The agreements are signed for a period of
20 years, with the option to prolong for another 15 years.
The planned capacity of the terminal is up to 500,000 tonnes per year, which is
scheduled to be achieved in the next three years. For Tallinna Sadam the
establishment of a new terminal means additional revenue from port dues related
to extra vessel calls and additional charges for handling cargo and the use of
land. Estimated revenue from the agreements amounts to EUR 14.6 million in total
over 20 years.
PK Terminal is part of the Palgard Crane Group, which operates in Sweden and the
Baltic States, whose main activities are loading and unloading and transport of
materials in ports, warehouses and terminals. PK Terminal, who has previously
been engaged in dry bulk warehousing and transportation in the port of Kunda,
will bring modern technology and superstructure to the new terminal in Muuga
Harbor, investing over EUR 5 million in the development of the terminal, taking
into use new modern loading equipment.
Tallinna Sadam is one of the largest cargo- and passenger port complexes in the
Baltic Sea region, which in 2018 serviced 10.6 million passengers and 20.6
million tons of cargo. In addition to passenger and freight services, Tallinna
Sadam group also operates in shipping business via its subsidiaries - OÜ TS
Laevad provides ferry services between the Estonian mainland and the largest
islands, and OÜ TS Shipping charters its multifunctional vessel m/v Botnica for
icebreaking and construction services in Estonia and offshore projects abroad.
Tallinna Sadam group is also a shareholder in an associate AS Green Marine,
which provides waste management services. Tallinna Sadam group's sales in 2018
totalled EUR 130.6 million, adjusted EBITDA EUR 74.4 million and net profit EUR
24.4 million.
Additional information:
Marju Zirel
Head of Investor Relations
AS Tallinna Sadam
m.zirel@ts.ee (mailto:m.zirel@ts.ee)
|