Petrolesport OJSC (PLP, Russia), which is part of the Global Ports Investments PLC group, has today launched the second construction phase of its storage site for reefer containers. The development project is part of PLP’s investment programme to expand the production capacity of the Petrolesport container terminal.

Currently Petrolesport OJSC has 1,800 reefer container plugs as at 31 March 2011. Once the second stage of the development is completed, the capacity of the reefer containers storage site will be increased by 2,736 TEU (1,368 reefer container plugs). Completion of increased capacity of the storage area of 1,728 TEU (864 plugs) is scheduled for July 2011 and full completion of the second stage of construction is scheduled for October 2011.

The first phase of development, which included expanding the reefer container storage site by additional capacity of 864 TEU (432 plugs), the container customs inspection area by 50 container slots as well developing an adjacent container yard to a maximum capacity of 870 TEU, was completed in 2010.

Since the beginning of 2011 PLP has been also developing the second phase of construction of a container customs inspection area for 70 container slots and an additional storage area with maximum capacity of 1,260 TEU. The launch of these facilities is preliminarily planned for autumn this year.

These new facilities have been built in the area where units for further processing of timber and other forestry product goods were previously located.

Development of PLP’s facilities is being carried out in accordance with the company’s long-term strategy, developed together with Hamburg Port Consulting. PLP’s investment programme is aimed at developing its infrastructure capabilities and improving the competitiveness of the company. During the period 2011 to 2023 PLP’s full development plan anticipates an increase in capacity of the container terminal to 2.3 million TEU from the current 1.0 million TEU and the ro-ro terminal to 270,000 vehicles from the current 210,000 vehicles. For the forthcoming period 2011-2012, PLP will invest $162 million as part of the company’s investment programme.