OREANDA-NEWS. Pietro Barbaro Group (Italy) presented its capital investment project “Russia”, thus becoming one of the major Italian investors in Russia.

According to the press service of MNP Group, under the project Pietro Barbaro Company, which enters Barbaro Group, ordered to Krasnoye Sormovo Shipyard (MNP Group) three tankers DWT 5,400 mt.

Two tankers “Elektra” and “Klimena” were built at the Yard and handed over to the Customer in June, 2006. In the meantime the Yard and Pietro Barbaro signed a contract for the third tanker that was laid down on October, 16, 2006.

The double-sided and double-bottomed vessels are built in conformity with the highest safety and environmental requirements. The unique structure of the hull allows using the vessels all year round: in summer – at waterways of the Volga-Don basin, in winter – in the Caspian Sea. The transportation will be carried out among Russia, Kazakhstan, Iran and Turkmenistan.

Italians are going to invest approximately $100 million in construction of the new fleet intended for transportation of oil on waterways of the Volga-Don basin.

The Russian project assumes creation of fleet from 12 vessels (tankers, tows-pushers, barges). Six vessels are already constructed on the Russian shipyards and used for transportation of oil products by the company TNK-BP. The remained six vessels are planned to be constructed within two years.

The project "Russia" of Group Barbaro is financed by the European Bank of Reconstruction and Development (EBRD), covering 70 % of cost of construction of a new fleet. Besides participation in financing of the Russian project, EBRD has got 18 % stake in the authorized capital of company Prime Shipping, subsidiary of Pietro Barbaro Group. According to director of the project Massimo Nikolacci, company Pietro Barbaro is not going to stop on achieved and is going to develop the business in Russia.