Seven investors interested to build bitumen terminal in Constanta port

Socar Petroleum is the latest of the seven bidders who expressed interest in building a bitumen terminal in Constanta port in partnership with Oil Terminal (BVB: OIL), the port operator announced.

Other major prospective investors are oil company OMV Petrom and commodity traders Trafiguta and Vitol (though its subsidiary Vitaro). Major port operator Frial, which specialised in edible oil, also expressed interest.

Oil Terminal says it owns some assets "strategically located" in Constanta port, which it wants to use as a basis for the development of a bitumen terminal. However, it would prefer to find a strategic investor for this project and open a selection process.

"Since Oil Terminal does not have its own sources for the implementation of such development projects, the company is interested in establishing partnerships in this sense," the company's note to investors reads.

Romania imports almost all the bitumen it uses, with only one local producer: Vega Ploiesti refinery operated by KMGInternational.

(Photo source: Claudiu Marius Pascalina/Dreamstime.com)