Romania's Oil Terminal gets state's permit to develop bitumen terminal project with Swiss partner
<p>Romania's state-controlled Oil Terminal (BVB: OIL), the port operator in Constanta Port, received the shareholders' approval to proceed with the bitumen terminal project developed in partnership with Swiss partner Euronova Energies.</p>

<p>The Swiss partner will fully bear the investment costs of the project.&nbsp;</p>

<p>After the completion and commissioning of the bitumen terminal, which will remain the property of Oil Terminal, it will be operated exclusively by Euronova Energies for a period of 10 years, with a guaranteed turnover of 80,000 tonnes per year.</p>

<p>Euronova Energies will recover its investment by applying a 15% fee on Oil Terminal's revenues generated by the new bitumen terminal.</p>

<p>Euronova Energies is part of the Euronova Holding group, controlled and managed by the Swiss Christopher Slaboszewicz and the ex-Yugoslavs Stephane Jovanovic and Nikola Mandic.</p>

<p>In the first half of 2024, Euronova Energies ranked as the main foreign client of the Oil Terminal and the fifth-largest among all clients, with a total value of services purchased of RON 16.5 million (EUR 3.3 million).</p>

<p><em>(Photo: <a href="https://www.dreamstime.com/" rel="noopener" target="_blank">Dynamoland/ Dreamstime</a>)</em></p>

<p><em>iulian@romania-insider.com</em></p>