15 December 2014
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
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.