The investment is part of a larger program which entails the construction of three new terminals and the modernization of three others.
“So far, we have invested around EUR100 million in the construction of three new terminals, in the localities of Jilava, Brazi and Isalnita, and in the modernization of the Bacau terminal,” said Neil Anthony Morgan, member of Petrom’s executive board, responsible for Refining and Marketing.
The four terminals have an aggregate storage capacity of 65,000 cubic meters of fuel. The Bacau terminal will be used to supply fuel to the northeastern part of Romania, Petrom said.
Petrom is 51%-owned by OMV AG (OMV.VI), while Romania’s Economy Ministry holds a 20.6% stake.
Wednesday morning, Petrom’s shares traded up 0.14% at RON0.4276 in Bucharest, amid a slightly rising market. (EUR1=RON4.4629)