Switzerland-based international goods and service company Telf AG has reached an agreement for investments for Freeport of Ventspils company Baltic Coal Terminal. Investments will be performed in cooperation with strategic consortium partners from Kazakhstan. A binding cooperation contract has been signed and an in-depth company evaluation has commenced. The investment deal is planned to be completed in Q1 2023.
The total value of the contract is not reported at this time.
For years Telf AG has cooperated with Baltic Coal Terminal, using the terminal located at the Freeport of Ventspils to handle goods. The company hopes new investments will help significantly develop bot the terminal’s and the sea port’s total transit potential and capacity, as stated in the press-release.
Investments into Baltic Coal Terminal is a strategic long-term cooperation decision for Kazakh investors and Telf AG.
The terminal equipped with modern equipment located in a non-freezing deep-water port is the ideal place for coal transports.
The terminal located at the Freeport of Ventspils has existed since 2009 and its the most modern terminal in the Baltic region that specialises in coal freight. The specialised freight-handling technologies used by the terminal meet all modern environment requirements. The terminal’s existing handling capacity is up to six million tonnes a year. The terminal’s development project is ready and provides for a significant boost of the terminal’s handling capacity.
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Switzerland-based Telf AG was founded in 1993. It is a full-service international goods and raw materials trader that works with clients across the world. Telf AG actively invests into expansion of its logistical network in CIS, Europe and other countries of the world. The deal involving Baltic Coal Terminal is part of this expansion plan. In 2010 Telf AG signed a strategic cooperation contract for the transportation of coal from Kazakhstan. In 2015 Telf AG because the largest independent iron alloy trader in the world.