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Irish port operator Multi-Link Terminals Ltd. (MLT) recently obtained $94 million in financing from DVB Bank AG to expand container terminals in Finland and Russia.

MLT plans to expand the capacity of its Kotka, Finland, container terminal to about 50,000 20-foot equivalent units (TEUs). In Russia, the company plans to expand the capacity of its Litke Bay container terminal near St. Petersburg from 75,000 TEUs to 230,000 TEUs under a two-phased project.

DVB Bank is providing $60 million in senior secured hybrid financing and $34 million in equity from Container Finance Ltd. Oy and Forth Ports Plc.

Containerships Ltd. Oy recently signed a long-term agreement with MLT to use the Kotka and Litke Bay terminals.