Page 160 - RusRPTNov20

to 2mt 3Q20 bauxite production decreased by 1.6% q/q to 3.8mt. The decrease in output was a result of unfavorable weather conditions in Guinea and Jamaica. UC Rusal expects the industry to normalize through 2021, given unprecedented, high PMI levels.
9.2.12​ Transport corporate news
Russian Railways (RZD)​ has released its 2020-2023 investment programme worth a total of RUB3 trillion ($38bn), ​with the priority given to passenger transportation projects, ​Kommersant d​ aily reported on October 6 citing a draft of the document. As reported by ​bne IntelliNews,​ mega-investment projects, among them those on the investment programme of RZD, ​could get a spending boost amid the coronavirus (COVID-19) stimulus​. Previously RZD had planned to issue up to ​RUB370bn of perpetual bonds in 2020​ to avoid cutting the investment programme by 25%. But with the election season about to being in Russia, the priority is now given to the passenger transportation, such as the Central Transportation Hub (RUB500bn investment), ​Moscow-St Petersburg high speed railway​ (RUB126bn), and Southern Hub (RUB10bn). ​Kommersant ​reminds that initial investment for 2020 for RZD stood at RUB821bn, which was cut to RUB622bn. In the latest draft cited by the daily the investment for 2020 is increased to RUB730bn, with RUB2.15 trillion planned to be spent in 2021-2023. The most severely cut projects ate the modernisation of Northern and Sverdlovsk railways for the Northern Latitude Road megaproject, which was downsized from the initital RUB97bn to RUB4.6bn. The BAM and Trans-siberian railways megaprojects are still maintained on the investment programme of RZD, with investment increased by RUB170bn (two main Far East railways built in Soviet times: the Trans-Siberian railway and the Baikal-Amur Railway).
Global Ports released its operating results for 3Q20 and 9M20 ​on Friday, 16 October. Global Ports saw total container turnover increase 4.4% YoY to 369,900 TEUs in 3Q20 while the Russian market as a whole was down 2% YoY to 1,309,600 TEUs over the same period. This is in line with the ASOP data released. Global Ports’ Russian segment (FCT, Petrolesport, ULCT and VSC) saw total container turnover increase 7.2% YoY to 1,144,200 TEUs in 9M20 while the Russian market was down 2% YoY to 3,960,380 TEUs. Global Ports has been outperforming the market since October 2019. Full exports from GLPR were up 10.5% YoY compared with the overall decline of 4.4% YoY seen in the market during 3Q20. GLPR’s 3Q20 imports grew 4.2% YoY as the market saw a decline of 2.3% YoY.
160 ​RUSSIA Country Report​ November 2020 www.intellinews.com