EMEA News
New Russian Bunker Terminal Moves Forward
The Baltic Fuel Company Group (BFC) Monday announced that it has received a permit from Russia's Federal Marine and River Transport Agency to construct and implement operations of a bunker terminal on the Turukhtanniye Islands, which are located within the waters of the Big Port St. Petersburg.
BFC says the project will see the construction of five berths, a tank farm, a discharge rack, as well as other facilities, and will increase the facility's throughput to 2.4 million tonnes by 2017 and to 4-5 million tonnes by 2020.
The terminal is said to currently consist of a 7.3 hectare plot of land and two berths for transshipment of oil products.
BFC explains that the permit issuance is the latest step in approvals for the terminal after the Federal Marine and River Transport Agency granted a permit to create an artificial plot of land to support the project on December 17, 2013 and approved the company's Declaration of Intent to invest into the project on July 30, 2014.
Investment in the project is estimated to total more than RUB 3 billion ($50 million).
