MOSCOW, November 10 (RIA Novosti) - Cyprus-based Chupit Ltd. won an auction Wednesday to purchase a 48.79% government-owned stake in the St. Petersburg Sea Port at the starting price of $28 million.
Other bidders included the Russian Independent Transport Company and Danish company Jysk Staalindustri, representing the interests of the Novolipetsk Metals Plant.
The St. Petersburg Sea Port is the largest transportation hub in Russia's Northwest Federal District. In 2004, 14.6 million metric tons of freight passed through the port, up 19% on the previous year.
