Norilsk Nickel sells Arkhangelsk Sea Port

A Norilsk Nickel company presentation made in London on May 18 reveals that the company intends to sell its stake in the Arkhangelsk port in the course of 2015. Also other socalled none-core assets might be sold, among them the company’s gas fields in the Taimyr Peninsula.

In addition, Norilsk Nickel considers to sell the Yenisey River Shipping Company, another key Arctic asset, newspaper Vedomosti reports.

The accumulated sales price for the objects could amount to about $1 billion, the company says.

The Arkhangelsk Sea Port, a key regional infrastructure object, in 2014 had a cargo turnover of 1,5 million tons, of which 400,000 tons were goods belonging to Norilsk Nickel. The port is considered a hub of major importance for shipping along the Northern Sea Route and is connected with Belkomur, the projected railway line between Arkhangelsk and western Siberia.

The port is a component in Russia’s transport strategy for the period to 2030. According to the strategy, an improved deep-water port in the area will ultimately have an annual capacity of 30 million tons.

Among potential buyers of the Arkhangelsk port are Chinese investors. During a recent business visit to China, representatives of the the Arkhangelsk regional administration confirmed that a “principal interest” in the port of was displayed by chinese companies.