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15 December 2014 Strategy

Global Ports approves 2015 CAPEX program

Global Ports Investments PLC

Global Ports approves 2015 CAPEX program

Global Ports Investments PLC (Global Ports or the Company, together with its subsidiaries and joint ventures, the Group; LSE ticker: GLPR) announces the Groups expected capital expenditure (CAPEX) program for 2015.

Given the Groups well-invested terminals which have available capacity, Global Ports has been able to reduce its expected consolidated CAPEX for 2015 from the previously indicated USD 35-45 million p.a. to approximately USD 27 million1 (on a cash basis). The majority of this expenditure is expected to be on equipment and infrastructure upgrades and maintenance.

Approximately 85% of CAPEX is expected to be focused on Petrolesport and Vostochnaya Stevedoring Company terminals and will include:

  • a new distribution transformer substation, electric substation and expansion of the crane repair and maintenance depot facility at Petrolesport;
  • equipment replacement at Vostochnaya Stevedoring Company and project works to support the long-term development plan for this terminal.

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