Excellent Hair Fall Treatment
Search: Look for:   Last 1 Month   Last 6 Months   All time
Home :: World

Russian firm opens petroleum terminal in Spain

Spain,Business/Economy, Sat, 28 Apr 2012 IANS

Barcelona, April 28 (IANS/EFE) Russian energy giant Lukoil inaugurated a petroleum-products terminal here Friday that is the fruit of its strategic alliance with Spain's Meroil.

 

The 50-million-euro ($66.3 million) project at the Port of Barcelona was carried out by Meroil Tank, a 50/50 joint venture of Meroil and Lukoil subsidiary Litasco.

 

The new terminal was built as part of a project to expand Meroil's existing port installations and consists of 13 new tanks with a combined storage capacity of 360,000 cubic meters.

 

Litasco will use the new terminal "to re-export and distribute diesel, biodiesel and jet fuel in Spain", Lukoil said in a press release Friday.

 

The presidents of Lukoil and Meroil, as well as the head of the Catalonian regional government, Artur Mas, attended the inauguration ceremony.

 

The expansion project turns the Port of Barcelona into one of the largest petroleum logistics terminals in the Mediterranean and an important hub for receiving and exporting petroleum products worldwide.

 

Meroil President Jose Luis Porte said the new installations will allow Lukoil to ship petroleum products to Spain from any part of the world.

 

Litasco chief Sergey Chaplygin said the alliance with Meroil marks "an important step" in the company's strategy of doing business in the Mediterranean and strengthening its market position in the region.

 

Beyond the investment cost of building the new terminal, Lukoil President Vagit Alekperov stressed the facility's "strategic importance".

 

--IANS/EFE

 

rd

 


LATEST IMAGES
Haryana CM Manohar Lal congratulate former Deputy PM Lal Krishna Advani on his 92nd birthday
King of Bhutan, the Bhutan Queen and Crown Prince meeting the PM Modi
PM Narendra Modi welcomes the King of Bhutan
PM Modi paying tributes at the portrait of Sardar Vallabhbhai Patel
People take part in the Run For Unity on the Rashtriya Ekta Diwas
Post comments:
Your Name (*) :
Your Email :
Your Phone :
Your Comment (*):
  Reload Image
 
 

Comments:


 

OTHER TOP STORIES


Excellent Hair Fall Treatment
Careers | Privacy Policy | Feedback | About Us | Contact Us | | Latest News
Copyright © 2015 NEWS TRACK India All rights reserved.