US investment fund Amerocap considers three alternative scenarios for investing over USD 100 million in the Romanian oil terminal (Oil Terminal Constanta, OTC) at the Black Sea, according to the non-binding offer submitted by the investment fund and published by the company.
Company’s shareholders were last week invited to discuss on August 5 the investment fund’s proposal, Ziarul Financiar reported.
Since the management invited the shareholders, the company’s shares have surged by more than 50%. On July 4, the stock exchange was posting a market capitalisation of RON 140 million (EUR 30 million).
The purpose of the business plan will be to invest capital and expertise in upgrading certain OTC assets such as to increase the company's competitiveness and its value for all stakeholders, the document reads.
Specifically, the business plan should aim at modernizing the existing asset base; creating new storage capacities and / or restoring existing capacities; reducing costs and increasing efficiency and quality of customer service in a general way; increasing safety in operation; solving historical environmental problems; providing new services to address new market segments; increasing employment sustainability and staff training, according to the non-binding letter of the prospective investors.
The shares of Oil Terminal, the company that operates the petroleum products terminal in Constanta port, soared by more...