Achievement of FSUE “Rosmorport” statutory goals related to the development of port and coastal infrastructure of federal property in the Russian seaports, in many cases, becomes possible under condition of attracting private investors.
FSUE “Rosmorport” is committed to implementation of joint investment projects with private enterprises under terms and conditions of State Private Partnership (further referred to as SPP) in the following directions of port and coastal infrastructure development:
- construction or reconstruction and further use of marine terminals;
- construction or reconstruction and further use of hydrotechnical facilities (whaves, piers, moles, breakwaters, and other shore protection;
- construction or reconstruction and further use of underwater hydrotechnical facilities (basins, moorages, operational basins);
- construction or reconstruction and further use of vessel traffic control services and aids to navigation.
Procedure of preparation and making investment agreements with potential investors
According to the requirements of Federal Law No. 261-FZ of November 8, 2007, the construction of seaport infrastructure facilities or their reconstruction, resulting in increase of the initially established indicators of the functioning of such cargo transshipment facilities (capacity, load capacity and other initially established indicators) (hereinafter - the creation of seaport infrastructure facilities), is carried out in accordance with the investment declaration containing a list of measures for the construction of seaport infrastructure facilities or their reconstruction, financial and economic justification, information on the planned volumes of investments, including capital investments, and the timing of the implementation of these measures (hereinafter - the investment declaration).
The content, form, procedure for the development, authorization and approval of the investment declaration, including the grounds for refusal to approve the specified declaration, were approved by Decree of the Government of the Russian Federation No. 798 of April 30, 2022.
The investment declaration is developed by investors and submitted for approval to Rosmorrechflot. The approval of the investment declaration is the basis for the inclusion of measures for the creation of seaport infrastructure facilities in the FSUE “Rosmorport” investment program, as well as for the conclusion of an agreement on the creation of seaport infrastructure facilities (hereinafter - the agreement).
While reviewing the investment declaration of intent and making a decision on the possibility of implementing an investment project, the documents submitted by a potential investor are judged by the following main criteria:
- the economic feasibility of implementing the investment project, according to which the measures for the creation of seaport infrastructure facilities provided for in the investment declaration are recognized as effective based on an assessment of their financial efficiency, in which the net present value of the project for the creation of seaport infrastructure facilities is greater than or equal to zero;
- existence of facilities to implement the project;
- minimalization of risks, including ecological, anthropogenic and economic risks;
- financial support of the project from non-budgetary;
- elaboration of investing procedures, including those of federal property faclities creation;
- opportunity of cargo delivery by railroad, automobile or other vehicular means to the seaport (terminal) in question.
At the stage of consideration of the investment declaration FSUE “Rosmorport”, on behalf of Rosmorrechflot, analyzes the economic feasibility and effectiveness of the enterprise's participation in the planned investment project and gives its conclusion. The conclusion of FSUE “Rosmorport” is sent to Rosmorrechflot for consideration when preparing a summary conclusion on the investment declaration.
After the approval of the investment declaration, provided there is no need to finance federal property facilities at the expense of the federal budget, FSUE “Rosmorport” and the initiator of the investment project conclude an agreement on the creation of seaport infrastructure facilities, taking into account the requirements of Article 6.3 of Federal Law No. 261-FZ of November 8, 2007.
The provision by the investor of collateral for the amount of investments in federal property facilities, as well as guarantees of the minimum volume of cargo transshipment, is one of the essential conditions of the agreement.
Guarantees from a private investor are required only in case of attracting funds from FSUE “Rosmorport” or federal budget funds to federal property facilities.
Collateral can be presented not only in the form of a bank guarantee or deposit, but also in the form of a guarantee of beneficiaries, which does not require the diversion of financial resources of the investor.
Application of an investment and contract model for financing federal property facilities is a form of guarantee, according to which an investor provides money for the creation of the facilities, which acts as collateral. FSUE “Rosmorport” recompense the investor for the costs incurred in federal property facilities at the expense of a part of the enterprise's prospective additional income from harbour dues and lease payments after putting all the facilities of the investment project into operation.
Guarantees on the volume of cargo transshipment in terms of the minimum volume of cargo transshipment and the duration of this obligation are also linked to the payback period of the state-owned facilities, that are being created, at the expense of future revenues from the operation of the port infrastructure.
The amount of funds provided as collateral for the implementation of the agreement on the creation of seaport infrastructure facilities is determined according to the methodology approved by Decree of the Government of the Russian Federation No. 143 dated February 10, 2022. The requirements for a person who intends to become a guarantor to ensure the execution of an agreement on the creation of seaport infrastructure facilities are defined in Decree of the Government of the Russian Federation No. 202 dated February 17, 2022.
Federal Law No. 261-FZ of November 8, 2007 also establishes that during the execution of the agreement, the parties have the right to make amendments in the following cases:
1) after receiving a positive conclusion of the state examination of the design documentation, if, according to the results of the state examination of the design documentation of the seaport infrastructure facilities, the target results (indicators) of the investment project will differ from those specified in the investment declaration;
2) if the nomenclature and volume of cargo specified in the agreement change due to circumstances beyond the investor's control;
3) if the capacity of public railway infrastructure sections changes by ten percent or more of the indicators provided for by the agreement;
4) upon the occurrence of force majeure circumstances that have served as an obstacle to the fulfillment or proper fulfillment of the obligations provided for by the agreement.
In case of the occurrence of the circumstances specified in Article 6.3, Part 6 of Federal Law No. 261-FZ of November 8, 2007, the investor has the right to send to Rosmorrechflot an application for amendments to the agreement regarding changes in the volume of cargo transshipment. The procedure and timing for approving these amendments are established by Decree of the Government of the Russian Federation No. 543 dated March 31, 2022.
FSUE “Rosmorport” large experience in successful implementation of different investment projects on development of port and coastal infrastructure on the basis of SPP makes the enterprise a secure and reliable partner, a warranter for achieving the settled goals for the benefit of both private companies, and the state.
FSUE “Rosmorport” is looking forward to prospective and mutually beneficial cooperation in the field of Russian seaports development with all interested Russian and foreign companies, and individual entrepreneurs.