Monday, January 28, 2013

Gunvor: full funding in support of Novorossiysk Fuel Oil Terminal

LLC Novorossiysk Fuel Oil Terminal, a company jointly owned by Gunvor Group and PJSC Novorossiysk Commercial Sea Port, has successfully completed a credit facility for a period of 7 years and $ 110 million USD with ZAO Raiffeisenbank.

The proceeds will be used to refinance loans of Associates used to construct the oil terminal and infrastructure, including tanks, unloading structures equipped with cars and oil pipelines.

The oil terminal, which has a capacity of 119,000 m3 and a flow rate of 4 million tons per year, well established service and received a license to operate in 2012.

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