
Tiit Vähi ostis oma äripartnerite osakud Sillamäe sadamast
Tiit Vähi bought out his business partners' shares in the Sillamäe port
Tiit Vähi on nüüd Sillamäe sadama ainuomanik. Ta ostis ära oma äripartnerite Gleb Katkovi ja Jevgeni Malovi osakud.
Tiit Vähi is now the sole owner of the Sillamäe port. He bought out the shares of his business partners Gleb Katkov and Yevgeny Malov.
Tiit Vähi bought out his business partners' shares in the Sillamäe port. He is now the sole owner of the port. Vähi does not disclose the price at which he bought the port. He says the port is not a publicly traded company.
Vähi started working with the port business in 2003 together with Gleb Katkov's father Andrei Katkov and Yevgeny Malov. The plan was to create an east-west cargo port with railway and ship facilities. Vähi says they successfully implemented this plan, but the war changed the situation. Transit volumes have decreased five to six times.
Since Katkov and Malov did not want to buy the port, Vähi decided to buy it himself. Now, Vähi and his family are the sole owners of the port.
Vähi spoke highly of his former business partners. He said they worked together for 22 years without any conflicts. They are currently on friendly terms.
Vähi said the port's financial results have declined due to the war. 2021 was a good year, but in 2022 and 2023 the results declined. In 2024, they have reduced the number of employees and kept costs low.
Vähi does not see an improvement in transit traffic in the near future. He hopes the war will end and transit traffic will recover. Currently, they are offering the port territory for development projects.
Vähi says the port's infrastructure is excellent. The port has 700 hectares of land, a river, the sea, energy production, and railways. He is proud of the port's equipment.
Vähi said he would like to develop not only the port but the entire region. He is sorry that it is currently not possible to provide jobs for thousands of people. Currently, a few hundred people work at the port, but in 2021 there were over five hundred.