Sakhatrans LLC Appoints New CEO

MOSCOW, November 27, 2012 /PRNewswire/ --

Volga Resources Group is pleased to announce the appointment of Yury Tyamushkin as CEO of Sakhatrans LLC. Mr. Tyamushkin will be responsible for the construction of the coal and iron ore terminals in Muchka Bay, near Vanino, Far East Russia. The port construction is planned to start in 2013 with completion expected in 2016. The initial planned capacity of the terminal will be 12.5 million tonnes per annum.

Mr. Tyamushkin has over 20 years' experience in construction and transportation. Prior to joining Sakhatrans, he was Deputy CEO of Transstroy Corporation, in charge of the construction of sea port facilities. He successfully oversaw the construction of the Sochi port cargo terminal which started operations in July 2012. From 2001 to 2009 he worked at Basic Element and since 2007 he was Head of Port Business with overall responsibility for the design and management of the construction projects in the aluminum, fertilizer and grain terminals in the ports of Vanino, Ust-Luga and Taman.

Chlodwig Reuter, Chairman of the Board of Directors of Volga Resources Group commented: "We are pleased to welcome Mr. Tyamushkin to our team and are confident his experience and professional expertise will ensure the successful construction of the coal and iron ore terminals."

About Volga Resources

Volga Resources Group is a privately-held investment group that directly or indirectly holds interests in a variety of assets on behalf of its shareholder, Gennady Timchenko.

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SOURCE Volga Resources