The Belgian based group SEA-invest is going to invest 40 up to 50 milion euro in a new bulk terminal located in the outer port of Gdansk via its Polish subsidiary Port Polnocny Sp.z o.o.

The investment will be carried out on 2 terminals which will be operated as 1 big terminal facility.It concerns the existing terminal of Port Polnocny Sp. z o.o., actually operating the exports of Polish coal, and the terminal of Rudoport S.A.(still green field until now) belonging to ArcelorMittal Poland S.A. For this purpose SEA-invest and ArcelorMittal have created o joint venture, whereby SEA-invest will be a 83% shareholder and ArcelorMittal Poland 17%.

The investment will consist of 2 cranes with a grab lifting capacity of 50 tons, a conveyor belt system with stacker-reclaimer, connecting conveyor belt between 2 terminals, upgrading of the existing conveyor belt system, train loading station, preparing of the stockyards, dust suppressing and water collecting equipment, etc... The terminal will be conceived in such a way that it provides high capacity dry bulk handing for mainly coal and iron ore, while applying the best available environmental technologies.

Capacities:

• 2 cranes of 50 T grab lifting capacity

• Nominal discharging capacity of the cranes: 1.300 T/crane/houer

• Conveyor belts and stacker-reclaimer: 4.000 T/hour on discharge

• Reloading on train 2.400 T/hour

• Average stockpiling capacity: 2 Mio T

The terminals will be able to discharge seagoing vessels at an average discharge speed of 30.000 T/day and load some 20 trains of 2.400 T each with destination inland Poland or Central Europe.

At the existing terminal of Port Polnocny Sp.z o.o. the discharge facilities for unloading trains and the ship loaders, with an average capacity of 35.000T/day for loading seagoing vessels, will remain operational in order to maintain the possibilities to handle Polish coal exports. At the same time the ship loaders will be linked to the existing and new conveyor belt systems so that transshipment cargoes of imported overseas coal can be handled for onward maritime transport in the Baltic Sea.

The planning of the construction of the new equipment is made in such a way that the export facilities at the existing terminal of Port Polnocny Sp. zo.o. will remain operational during the whole investment and construction period.

Both the unloading jetty (former Rudoport) and the loading jetty (Port Polnocny Sp. z o.o.) will be offer the maximum draught for entering the Baltic Sea ( BALTMAX draught). The terminals will be able to receive cape size vessels with a draught of 15m.The investment and construction period will last between 18 to 24 months, meaning that the terminal will be operational and ready to discharge incoming vessels during 1^st half of 2010.

The new terminal will create easy access to overseas supply of raw materials for the Polish and Central European energy and steel industries. The available Batmax draught will allow mining companies, traders and industries to optimize their seafreight expenses. The high train loading capacity, combined with an excellent railway connection to the hinterland will contribute to the optimization of the supply chin of raw materials .