Islamic Republic of Iran Shipping Lines (IRISL) will provide Astrakhan Port PJSC with a loan of $10.5 million for the purchase of two ships, according to the port’s corporate materials.
The loan to cover the borrower’s obligations under the MoU on the sale and purchase of ships dated August 29, 2023 makes $10.5 million.
The loan is to be returned in 2 months.
The MoU on the sale and purchase of ships was signed with Kotlin Shipping Company LLC (seller). According to the MoU, the ships are to be handed over by October 1. The value of the deal is $12.5 million, VAT excluded.
As of the date of the deal, assets of Astrakhan Port PJSC cost RUB 1 billion 50.99 million (about $10.9 million).
Astrakhan Port PJSC is among the largest companies of the port complex in the Astrakhan Region. Its key cargoes are grain, metal and sawn timber. The port’s capacity is over 1.5 million tonnes per year. The port numbers 5 berths with a total length of 750 m. They can simultaneously accommodate 5 dry cargo ships of sea/river class of up to 7 thousand tonnes in capacity and a draft of up to 4.5 meters. In 2022, the port handled 677.1 thousand tonnes.
Kotlin Shipping Company LLC has been operating in the field of sea and river transportation from 2011. Headquartered in Saint-Petersburg, the company is engaged in export/import transportation of general and dry bulk cargo as well as cargo storage in the ports of Russia and Europe.