Summa News Latest news from Summa Group 2014 Summa News – Nov 2014 – PT2 

FESCO Announces Work Agreement Far East Shipping Company (FESCO), a subsidiary of the Summa Group, has announced that they will with working Sberbank to open a revolving credit facility worth 2.4billion Rubles over 3 years. The funds will be used to finance current operations and reinforce the group’s strong liquidity position. The agreement is fully compliant with the USD550m Senior Secured Notes terms and conditions due in 2018 and the USD 325m Senior Secured Notes in 2020. Summa News – Nov 2014 – PT2 

Stroynovatsiya Wins Tender for Finlandskaya Street Summa News – Nov 2014 – PT2 Summa group subsidiary Stroynovatsiya has won a tender to overhaul Finlandskaya Street in Saint Petersburg. The St. Petersburg City Directorate for Transport Construction has approved and signed a contract for the overhaul of Sovetsky to Sofiyskaya Street in Saint Petersburg. The contract is worth nearly 2 billion Rubles and will be carried out over a 4.48 kilometre road. The project aims to increase the number of lanes from one to two or two or four lanes depending on the section of the road. The bridge over the river and the removal of the existing utilities will also be included as well as a development of transport stops. 13 new transport stops will be added, as well as parking lots to cater for physically challenged individuals and a tactile tiles for people suffering from impaired eyesight. Finlandskaya street’s separate sections will be joined and access to Sofiyskaya street will also be developed. This will relieve the current bottleneck of traffic on the Kolpinskoe Highway. 

NCSP Group Increases Transshipment to 10m Tonnes Summa News – Nov 2014 – PT2 Summa Group subsidiary NCSP have signed a letter of intent to facilitate increased transhipments of up to 10 million tonnes of iron ore and pig iron per year in conjunction with Metallonivest. The metals will be used to construct a specialized bulk cargo terminal which will include access railways and hydraulic structures at the Port of Novorossiysk in north-east Russia. Sultan Batov comments on the project, “We believe the grounds of Novorossiysk Shipyard suit best for construction of this new terminal. Reconstruction of the Novorossiysk rail hub is the mandatory precondition for implementing the project. At the new terminal NCSP expects to facilitate intake, storage and transshipment of up to 10 million tonnes of bulk cargo by means of its own port infrastructure, utilizing state-of-the-art technology and equipment to guarantee the best cargo handling service.” Metalloinvest will be using NCSP’s new cargo terminal to export iron of up to 10 million tonnes per year to North Africa, Middle East, Asia-Pacific and Mediterranean regions. 

About Summa Group Summa Group specialises and invests in port logistics, engineering, construction, oil and gas sectors as well as telecommunications. Summa Group is a diversified private holding that comprises of more then 10 000 people in 40 regions of Russia and abroad. Mr Ziyavudin Magomedov is the founder and shareholder of the Summa Group, which will reach its 10 year anniversary in 2014. Summa News – Nov 2014 – PT2